New Job Support Scheme
As the Coronavirus Job Retention Scheme ends 31 October, the UK government has announced a new Job Support Scheme. This new measure is for employees who are currently employed, but due to COVID-19 are working less hours than normal.
Employees must have a UK bank account and be part of an employer PAYE on or before 23 September to be eligible. The employee must also work at least 33% of their usual hours. The government will pay one third of the employer usual pay for every hour not worked. The cap on contributions is £697.92 per month. Employers will be reimbursed for the government contributions.
This new scheme is available for small and medium sized companies. Employers will still be required to pay National insurance and pension contributions. The Job Support Scheme will be in place beginning 1 November and be in place through 30 April 2021.
If you need help navigating the new Job Support Scheme or National Insurance and pension contributions, we can help. There have been so many changes that it can pose challenges for your payroll process. Our team is CIPP-certified and can ensure compliance with the new regulations. Click here to learn more