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As I explained in my previous update , this is a scheme whereby 80% of a furloughed employee’s salary will be reimbursed by HMRC to the employer. The employer will need to designate the employee as furloughed and input the details into the HMRC portal. This is not yet ready and is unlikely to be so for 6 to 8 weeks. We are told it will be backdated to 1st March. It seems that employers are being advised to take out loans to fund this in the meantime, which is in itself causing problems.
I am being asked a lot of questions about furlough leave and the government’s Coronavirus Job Retention Scheme which has been announced over the past few days. The purpose of this newsletter is to give you an outline of the information which is available at present, although you will see that some of the details are not yet available. I will be providing a further update later in the week. Please note that this is not to be relied on as advice for specific legal issues, but just an overview.
