The government’s Job Support Scheme is due to start in November as a replacement for the Job Retention Scheme. Rishi Sunak has announced updates which we have outlined for you below – for more information on the scheme read our post that will tell you more details about the scheme.
The aim of the scheme is to lower the costs of a business that hasn’t been made to shut. They will pay their employees less, who in turn will work for fewer hours.
Last month, we learned that employers would pay a minimum requirement of 55% of wages for a third of hours worked by their employees.
Instead, employers will have to pay for a minimum of 20% of usual hours worked, and 5% of hours not worked.
It was announced today that the government will fund 62% of wages for hours not worked. This more than doubles the maximum amount available to £1,541.75.
The scheme is still open to all small businesses and larger businesses that can prove they have been impacted by the pandemic.
It is available across the UK but was designed to address the gap in support for businesses in tier two restrictions.
We have been supporting our clients and more throughout the pandemic and will be keeping it up! Our team are all up to date with the latest legislation and will be happy to take any questions you may have about the Job Support Scheme or other funding options you need to discuss.
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