So far, we have seen the Furlough Scheme (CJRS) and the Bounce Back Loans (BBL) being fantastic lifelines for many businesses with a huge take up on both.
You will no doubt already be aware that the Furlough Scheme has been extended, but what you may not be aware of is that this extension comes with some changes. We want to draw your attention to some key points to ensure you do not get caught out and to give you the opportunity to plan accordingly.
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1. The furlough scheme will be closing to additional new staff entrants from 10th June 2020 and not 30th June like the press may be reporting.<\/strong><\/p>\n\n\n\n This is because from 30th June all entrants need to have already been furloughed for a minimum of 3 weeks at some point prior to 30th June to qualify for the scheme going forward.<\/p>\n\n\n\n This point is very important as you essentially may need to make some longer term furlough plans now ( relating up to October 2020 ), because after the 10th <\/sup>June it may be then closed off to you.<\/p>\n\n\n\n
2. From 1st <\/sup>July 2020, you can start to bring staff back on a part time basis. If you choose not to do that, the government will still pay 80% of their salary.<\/strong><\/p>\n\n\n\n