Blog

FURLOUGH SCHEME EXTENDED TO 30 JUNE

The Government has extended its furlough scheme, keeping millions of employees in jobs until the end of June. Following last week's confirmation that the UK will remain locked down until at least the 7 May 2020, the job retention scheme is to stay open until 30 June 2020. Both the lockdown measures and the furlough scheme remain under constant review and could be extended further if necessary.

Chancellor Rishi Sunak said: "With the extension of the lockdown measures, it is right to extend the furlough scheme for a month to the end of June to provide clarity. It is vital for people's livelihoods that the UK economy gets up and running again when it is safe to do so, and I will continue to review the scheme."

Afford Bond Director, Paul Edwards said: "Employers that began furloughing staff last month have begun to apply for help with their wage bills, with April's payroll looming for many. The scheme funds 80% of workers' wages, up to £2,500 a month, if they were put on leave after 1 March 2020. There are still many businesses struggling, but this is definitely going in the right direction."

Cheshire accountants, Afford Bond, in Nantwich and Wilmslow, remain open for expert tax advice and payroll. If you need help, please use the Contact Us form on our website at www.affordbond.com