Chancellor Rishi Sunak
The government’s Coronavirus Job Retention Scheme has gone live, with construction businesses able to claim up to £2,500 a month towards staff wages.
Employers can apply for direct cash grants through HMRC’s new online portal (click here), with money expected to land in their bank accounts within six working days.
The initiative was announced by Chancellor Rishi Sunak as a package of support to protect jobs and businesses. Under the scheme, employers can claim up to 80% of a furloughed employee’s wages, capped at £2,500 a month.
In addition to the online portal, HMRC has up to 5,000 staff manning phone and webchat services to answer questions.
The news came after Sunak last week announced that the furlough scheme, thought to be costing the taxpayer around £50bn, would be extended by a month until the end of June. The scheme was originally announced on 20 March and backdated to 1 March.
Sunak said: “Our unprecedented job retention scheme will protect millions of jobs across the country and is now up and running.
“It’s vital that our economy gets up and running again as soon as it’s safe – and this scheme will allow that to happen.”
