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COVID-19 CRJS & SEISS Update

Coronavirus Job Retention Scheme (CJRS)

From 1 July 2020 businesses will have the flexibility to bring furloughed staff back on a part-time basis.

Also, from 1 August 2020 the government support will be reduced. Employees must continue to be paid at least 80% of their salaries whilst on furlough. The updated CJRS will apply as follows:

June & July – HMRC will pay 80% of wages up to £2,500, employers national insurance and minimum pension contributions, just the same as for March, April & May.
August – HMRC will pay 80% of wages up to £2,500. Employers will be required to pay employers national insurance and pension contributions.
September – HMRC will pay 70% of wages up to £2,187.50. Employers will be required to pay employers national insurance and pension contributions.
October – HMRC will pay 60% of wages up to £2,187.50. Employers will be required to pay employers national insurance and pension contributions.

Coronavirus Self-Employment Income Support Grant (SEISS)

On Friday evening the Chancellor announced an extension of the SEISS scheme for a further 3 months to cover June, July & August. Applications for the first SEISS grant can be made at any time until 13 July. The second grant will open in August and will be a taxable grant worth up to 70% of average trading profits capped at a total of £6,570. The eligibility criteria is the same for both grants.