The biggest scheme of its kind in the history of the UK, the Coronavirus Job Retention Scheme has been a necessary but costly measure for the government, currently estimated at over £20bn to date. This is only expected to increase as the scheme is extended to October 2020.
Last week we shared a blog covering the main updates to the Coronavirus Job Retention Scheme as announced by the Chancellor on Friday 29 May.
Whilst we’re still waiting for a further announcement later this week (confirmed 12 June), we’ve provided some additional details on other changes to the scheme here.
On Friday 29th May, the Chancellor, Rishi Sunak, announced more details about the extension to the Coronavirus Job Retention Scheme (CJRS).
Here is a summary of the three major updates you need to know about:
1. As of August, you must contribute to furloughed employees’ wage costs. The level of contribution will increase each month until the scheme closes in October.
2. The current furlough scheme will close to new entrants on the 30th of June. If you want to put any new employees on furlough, you must do so by the 10th of June.
3. A new flexible furlough scheme will launch from the 1st of July. You can bring furloughed employees back on part-time hours and claim for the time your employees are not at work, to a set limit.
The introduction of GDPR has led to some major changes in the way businesses deal with personal data - notably requiring you to prove permission or ‘just cause’ for processing the data in the first place.
The personal tax account is an online tax account for individuals. The personal tax account enables individuals to see all of their tax and National Insurance information in one place.
The Government has been looking at the tax and National Insurance treatment of termination payments. They consulted last summer on possible changes and have recently published their response to the consultation, together with draft legislation.
