HMRC will reimburse 80% of ‘furloughed’ workers wage costs, up to a cap of £2,500 per month.
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis. All UK businesses are eligible. Employers will need to designate affected employees as furloughed workers, and notify your employees of this change.
Employers will also be required to submit information to HMRC about the employees that have been furloughed and their earnings through a new online portal (still awaiting information from HMRC).