The UK Government’s Coronavirus Job Retention Scheme goes live today, with businesses able to claim up to £2,500 a month per employee towards staff wages.
The scheme is live 10 days ahead of schedule and will help hundreds of businesses across the Borders.
The job retention scheme, announced by Chancellor Rishi Sunak as part of a package of support to protect jobs and businesses, allows employers to claim for a cash grant of up to 80% of a furloughed employees wages, capped at £2,500 a month.
Employers can apply for direct cash grants through HMRC’s new online portal - with the money expected to land in their bank accounts within six working days. 5000 HMRC staff have been allocated to operate the scheme.
Last week the Chancellor announced the scheme will be extended for a further month until the end of June, to reflect continuing Covid-19 lockdown measures.
Employers can access the scheme here: https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme
John Lamont MP commented: “The opening of this scheme will be welcomed by employers in the Borders and across the UK. Without it, thousands of organisations would simply have gone out of business.
“The government and the dedicated civil servants at HMRC deserve praise for the speed at which they have been able to get this up and running, during what is already challenging circumstances.
“These are exceptionally difficult times for everyone. I know that this scheme will go some way in alleviating cash flow problems for many but there are many businesses which will still be facing extreme challenges. Please do get in touch with me if I can be of any assistance.”
Chancellor of the Exchequer, Rt Hon Rishi Sunak MP, said: “Our unprecedented job retention scheme will protect millions of jobs across the country and is now up and running.
“It’s vital that our economy gets up and running again as soon as it’s safe – and this scheme will allow that to happen.”
