CJRS v2: what we know webinar

5 June 2020: an upcoming ICAEW webinar will examine what we know so far about proposed changes to the Coronavirus Job Retention Scheme dubbed ‘CJRS v2’ and answer as many questions as possible about the measure.

On 29 May, Rishi Sunak outlined the upcoming changes to the furlough scheme, touted as CJRS v2. Whilst this allows employees to return on a flexible basis, employers will need to cover some costs and there is a hard cut-off date of 10 June for adding employees. 

Rachel Underhill, ICAEW Senior Business Strategy Manager, highlights an upcoming ICAEW webinar that will talk through what we know so far, work through practical examples and examine what questions remain unanswered.

With nearly nine million jobs furloughed under the job retention scheme by the end of May, employers and employees have been anxious for details of how the scheme will evolve. The fear of a cliff edge was assuaged by the Chancellor when he announced how the scheme will be reshaped, and ultimately tapered down to a close by the end of October. However, as with many government scheme announcements, there are questions on how it will work in practice.

Anita Monteith, ICAEW’s Tax Technical Lead and Senior Policy Adviser, will be joined by ICAEW’s Technical Manager for Practitioner Support Caroline Miskin to answer as many of these questions as possible in this short notice webinar. 

The session will look to cover:

• Allowing furloughed employees to come back to work on a flexible part-time basis.
• Employers covering the costs of the working hours of part-furloughed staff.
• From August, employers covering some of the costs of fully furloughed staff.

It will also flag the impending hard cut-off date for the scheme: employees must have started their furlough by 10 June. To make a claim under CJRS v2, employers must have submitted a claim under the existing version of the scheme before 1 July and only employees who have been included in claims under the first iteration of the scheme can be eligible for furlough under CJRS v2. 

As of 1 July, there will also be a maximum number of employees that can be claimed for in any single claim - the maximum number on any single claim under CRJS v1. 

As with our previous “what we know” webinars on government schemes, the questions from participants also informs ICAEW’s policy conversations with government at all levels.

Please join us for the webinar, which like all ICAEW’s COVID-19 support is free to members and share with those who need the urgent support given the impending deadline.

To register for the webinar, which will take place at 4pm on the 9 June, click here.