The current Coronavirus Job Retention Scheme is expected to be extended from June until the end of September 2020 but Rishi Sunak is expected to cut the payments to 60% of earnings. The Chancellor has also pledged to top up the wages of laid off workers who return to work on a part time basis. As businesses like retailers slowly re-open they are unlikely to need all of their staff due to the imposed social distancing rules. These changes are aimed at avoiding a “cliff edge” cut-off of the scheme aimed at preventing an estimated 1.2 million redundancies.

Please note this has now been updated following the Chancellors announcement. Full details can be found here.

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This article is published for information only. It provides only an overview and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the above can be accepted by the author or the firm.