Latest Coronavirus Job Retention Scheme claim figures
29 July 2020
HMRC has released the latest figures relating to the Coronavirus Job Retention Scheme (CJRS), as of 26 July 2020.
Data compiled from that date highlights the fact that 9.5 million jobs have been furloughed, by 1.2 million employers, resulting in total claim figures to date of £31.7 billion. This demonstrates the fact that companies are still utilising the scheme, as claim figures have increased by £1.9 billion since the week before, on 19 July 2020, when they stood at £29.8 billion.
The scheme will continue to run until the end of October 2020, but massive changes to its rules were applied from the start of July, when employers were able to bring employees back to work on a part-time basis, and to operate ‘flexible furlough’. Throughout July, the government committed to paying 80% of wages up to a monthly cap of £2,500 for any ordinary hours not worked, along with the associated employer National Insurance (NI) and pension contributions. In August, they will still pay 80% of wages but employers must pay the employer NI and pension contribution amounts on any ordinary hours not worked that an employee has been placed on furlough. In September, the government will pay 70% of wages, with the employer contributing 10%, and in the scheme’s final month, in October, the government will pay 60% of wages with the employer accounting for 20%.
There are still calls for the scheme to be extended beyond October, but Chancellor, Rishi Sunak, confirmed in his Summer Economic Statement that the government did not intend for this to happen.
The information in this article is accurate at the time of publication. For all the latest information, news and resources on how the COVID-19 pandemic is affecting payroll professions, visit our Coronavirus hub.