UPDATE: The government has now extended the furlough scheme until December 2020. Please see here for further information.
Last week, further details on the furlough scheme were announced. Here’s a rundown of the key points:
- From 1 August 2020, employers will have to pay National Insurance contributions and pension contributions
- From 1 September 2020, the government will only reimburse 70% of an employee’s salary (up to a maximum of £2,190). Employers are required to contribute 10%
- From 1 October 2020, the government will only reimburse 60% of an employee’s salary (up to a maximum of £1,875). Employers are required to contribute 20%
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