The government’s furlough scheme is now drawing to a close – in line with the lifting of lockdown restrictions and will end completely at the end of September.
It was introduced by Rishi Sunak in March 2020 to protect jobs during the coronavirus restrictions and has lasted longer than at first expected.
For September, the Government will pay up to 60% of wages, and as before employers must top up their employees wages. Employers have until 14th October to make a claim for the furlough they have paid in this month.
What will happed then? At the end of July Government data showed 1.6 million workers were still furloughed, suggesting many still face an uncertain future at this time. Employers will have to decide whether to take back their furloughed employees or make them redundant. In most cases, we would have expected any redundancy processes already to be in place by now, but we do expect a small uplift in unemployment.
If you have any questions in regard to the furlough scheme ending and how it will affect you or your business please contact us enquiries@ebsaccountants.co.uk