How do I furlough my staff?
Before the end of April, all businesses will be eligible for grants from the Coronavirus Job Retention Scheme to cover a portion of workers’ salaries if a business has to furlough them as a result of the coronavirus situation. The government will pay up to 80% of furloughed employees’ salaries, and employer National Insurance and pension contributions (up to £2,500 per month) as a grant. The pay will be backdated to 1 March 2020 and is also expected to apply to employees made redundant because of coronavirus, who’ll eventually return to work. The scheme will run for a maximum of three months and employees can’t work during that period.
Barclays Eagle Labs have worked with SeedLegals to answer your top questions on the furlough scheme.