The Coronavirus Job Retention Scheme for workers at companies hit by the coronavirus outbreak went live yesterday (20 April).
Businesses can now claim through the HMRC’s new online portal for a cash grant of up to 80 percent of a furloughed employee’s wages, capped at £2,500 a month.
The scheme represents the centrepiece of Chancellor Rishi Sunak’s plan to shield the world’s fifth-biggest economy from the full force of the crisis.
“Our unprecedented job retention scheme will protect millions of jobs across the country and is now up and running,” Sunak said. “It’s vital that our economy gets up and running again as soon as it’s safe – and this scheme will allow that to happen.”
Sunak has last week extended the scheme by a month until the end of June. The scheme was originally open for three months and backdated from the 1 March to the end of May.
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