We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

Coronavirus Job Retention Scheme goes live as it is extended to end of June

20 Apr 2020

The government's Coronavirus Job Retention Scheme went live on 20 April after Chancellor Rishi Sunak extended it until the end of June.

The scheme allows businesses to furlough their employees, with the government paying 80% of their wages up to a maximum of £2,500.

HMRC has emailed two million employers providing a link to a five-step guide to claiming, and has warned them to be aware of the scams that are circulating.

The Coronavirus Job Retention Scheme was initially open for three months and was backdated from 1 March 2020 to the end of May. The Chancellor stated that the scheme would be kept under review and extended if necessary.

He said: 'We've taken unprecedented action to support jobs and businesses through this period of uncertainty, including the UK-wide Job Retention Scheme. With the extension of the coronavirus lockdown measures . . . it is the right decision to extend the furlough scheme for a month to the end of June to provide clarity.

'It is vital for people's livelihoods that the UK economy gets up and running again when it is safe to do so.'

The Treasury stated that further decisions on the Job Retention Scheme will take into account developments on the wider measures to reduce the spread of the coronavirus.

For more information, please click here.

Register

Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.

Learn more

Tax Calendar

Our handy tax calendar provides an overview of the key tax dates for your diary.

Learn more

Calculators

B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

Learn more

Home | About us | Contact us | Logon | Register | Accessibility | Disclaimer | Help | Site map |

© 2024 B2B Business Advisors Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.