Coronavirus Job Retention Scheme v 3.0

Government Support for your Business
Updated 17th December 2020

This scheme has been set up to support business that cannot maintain normal operations due to Covid-19

What do you need to know…

  • CJRS scheme v 3.0 extends the furlough scheme to 30th April 2021
  • CJRS scheme v 3.0 is effective from 1st November 2020
  • The government will review the furlough scheme again in January 2021
  • Employers can claim up to 80% of furloughed employees gross wages
  • Furlough claims are capped at £2,500 per month per employee
  • Employers are required to pay NIC and minimum pension costs for furloughed employees
  • Directors can be furloughed (including sole directors)
  • Employers can bring furloughed staff back on a part time basis
  • Employers will pay for the hours worked whilst CJRS v3.0 will cover 80% of remaining hours
  • Furlough payments are taxable but not repayable
  • Claims can be submitted before the pay date
  • Payments are processed within 5 working days

Key changes versus previous CJRS schemes…

  • You do not need to have used the scheme before to claim for periods from 1 November 2020
  • HMRC intend to publish details of employers who use the scheme for claim periods from December
  • Employees will be able to find out if their employer has claimed for them under the scheme
  • New deadlines: monthly claims must be submitted within 14 calendar of the month end

How can Adams O’Rourke Accountants can help you…

  1. We can help you work out if you are eligible
  2. Work out how much you can claim
  3. Support the process for making these claims

As ever, Adams O’Rourke are here if you need any further assistance regarding Covid-19 business support. Click here to get in touch with us.

Take care everyone!

Further Information is available on the HMRC website

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