The Coronavirus Job Retention Scheme is a temporary scheme open to all UK employers for at least three months starting from March 1st, 2020. It's designed to support employers whose operations have been severely affected by coronavirus (Covid-19).
Employers can use an online portal to claim for 80 per cent of furloughed (employees on a leave of absence ) employees’ usual monthly wage costs up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that wage. Employers can use this scheme at anytime during this period.
The scheme is open to all UK employers that had created and started a PAYE payroll scheme on or before February 28th, 2020.
Find out if you’re eligible and how much you can claim to cover wages for employees on temporary leave ('furlough') due to coronavirus (Covid-19) on the gov.uk website.
Legal advice company Farrer & Co has also published an article which covers many frequently asked questions. Read the blog on the Farrer & Co website.