Changes to the Coronavirus Job Retention Scheme (CJRS), otherwise known as the Furlough scheme, will come into effect on Thursday 01 July 2021.
From 01 July 2021, the level of the grant will be reduced and you will be asked to contribute towards the cost of your furloughed employees’ wages. To be eligible, you must continue to pay your furloughed employees’ 80% of their wages, capped at £2,500.
The changes for the CJRS come July see the government contribution drop to 70%, up to £2,187.50 – employers will be required to contribute 10% up to £312.50.
Knowing how to take control of your business finances to maximise profits can be difficult, especially with the current climate. Knowing the common mistakes to avoid can be difficult and can leave you feeling unsure.
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