CJRS - the final phase calculations
This webinar from the Tax Faculty will provide details of the final extension to the CJRS scheme and how the rules will be changing for this final phase.
From 1 July 2021 the level of the CJRS grant will be reduced to 70% of salary for hours not worked and from 1 August 2021 it will be reduced again to 60%. Each employee must though continue to be paid 80% of their reference pay up to the £2,500 cap and for hours worked in accordance with their employment contract, so employers will be paying some salary costs for the furloughed hours as well as the total cost of all employers' NIC and the auto-enrolled pension contributions.
Employees who are furloughed full or part-time as a result of the coronavirus pandemic are eligible. Don’t forget that from 1 May 2021, employees who were employed prior to 3 March 2021 will be eligible, so any who were on an RTI report between 20 March 2020 and 2 March 2021.
Join Kate Upcraft and Anita Monteith for this webinar to learn more about the final extension to the CJRS scheme and how the rules will be changing for this final phase. Worked examples will be used to illustrate the changes.
Broadcast on 7 May 2021