Job Retention Scheme – update
March 26, 2020

Job retention scheme - updateFurloughed workers and suggested proforma letters

Michael Chadwick, founding Director at Chadwick & Company, gives further details about the Government’s job retention scheme. 

Under the Coronavirus Job Retention Scheme, all employers in the UK will be able to access support to continue paying part of employees’ salaries ​who would otherwise have been laid off during the ongoing crisis.

Furloughed workers are employees whose employers cannot cover staff costs due to coronavirus, and as such they have been asked to stop working but have not been made redundant. Such employers are now able to access support to continue paying part of their staff’s wages, to avoid redundancies and so they can retain their teams.

In order to claim the Government funding, the furlough must last for at least three weeks.

Further details about the scheme

The Association of Chartered Certified Accountants (ACCA) have produced a helpful document which includes:

  • details about how the scheme will work
  • the system for reimbursement
  • suggested wording for furlough agreements, including example employee letters.

Download the ACCA document here. 

We are here to help

If you would like to talk to a qualified accountant about these measures, or any other financial matter, then please do not hesitate to get in touch. We are now operating a ‘virtual office’ with Directors and Senior Managers still available to respond to calls and emails, so we are on hand to offer support and guidance for your business throughout this testing time.

Read more about the Government’s support package here. You can also email or call us on 0161 370 9600.  

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