With the recent government announcement encouraging staff to return to the workplace, many people are beginning to return to work after a period of time of furlough. It is important now more than ever that you know how to properly furlough staff, bring staff off furlough and secure any support that your business may be eligible for.
Coleman And Co support small and medium sized businesses throughout Lisburn and the Northern Ireland area. Our team of highly qualified accountants are here to help provide you with the financial advice necessary on how to support employees who are either returning to the workplace or on furlough. Call 028 9266 3599.
The Meaning Of Furlough
Furlough refers to an employee who is still employed by their employer and is on the payroll but they have been asked to temporarily stop working. During the furlough period, they would not be receiving any pay.
The Coronavirus Job Retention Scheme
Keeping up to date with the latest government announcements is paramount for any business during these unprecedented times as things are changing daily. The government announced The Coronavirus Job Retention Scheme also known as the furlough scheme was extended from 1st July. The scheme consists of grants and support to help businesses who are feeling financial strain due to the circumstances surrounding Covid-19. It aims to prevent redundancies by introducing a pay of 80% for furloughed workers up to £2,500 per month. It also covers a minimum contribution of 3% of an employee’s earnings towards National Insurance and Pension.
From 1st July, employees could return for any amount of time and in shift patterns, whilst still being able to claim The Coronavirus Job Retention Scheme grant for hours in which they haven’t worked. From 1st August, the amount of the grant received was reduced each month.
The CJRS is set to close on 31st October 2020.
Speak With A Professional
It is vital to speak with a professional as the situation surrounding Covid-19 continues to change drastically. Here at Coleman and Co, we provide professional and practical accounting. We apply our expertise to a wide range of accounting services, some of these include:
Get In Touch With Coleman And Co For Financial Advice Today
For further information on the furlough scheme alongside professional financial advice, contact Coleman And Co today. Call 028 9266 3599 or fill in our contact form to make an enquiry. You will always receive a fast response. We can provide information regarding returning to work after furlough and support for your business through these uncertain times.
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