Insights
Coronavirus – UK job retention scheme
Mar 20, 2020Summary
As an update to our earlier blog “Coronavirus – update on UK government measures in relation to employee absences and statutory sick pay”, set out below is a brief overview of the key measures that have, today, been announced by the UK government in relation to employees.
- Employers will be provided with a grant to cover 80% of the salary (up to £2,500 per month) of employees who are not able to work, so that they can be furloughed, rather than dismissed. Employers can choose to top this up if they wish.
- These grants will be backdated to 1 March 2020 and will be available for at least 3 months.
- There will be no limit on the amount of funding under the scheme and the first grants are expected to be paid within weeks.
- Additional measures have also been announced, including the business interruption scheme being interest-free for 12 months rather than 6 months, and VAT payments being deferred to the next quarter.
Related Practice Areas
-
Employment & Labor
Meet The Team
This material is not comprehensive, is for informational purposes only, and is not legal advice. Your use or receipt of this material does not create an attorney-client relationship between us. If you require legal advice, you should consult an attorney regarding your particular circumstances. The choice of a lawyer is an important decision and should not be based solely upon advertisements. This material may be “Attorney Advertising” under the ethics and professional rules of certain jurisdictions. For advertising purposes, St. Louis, Missouri, is designated BCLP’s principal office and Kathrine Dixon (kathrine.dixon@bclplaw.com) as the responsible attorney.