Effectively, the ‘Coronavirus Job Retention Scheme’ has been established to help businesses, who have been affected by the Covid-19 emergency, cover the salary costs of their staff. It doesn’t cover everything, and it has to be retention in response to the impact of the Covid-19 emergency.
Click here to follow the Government’s step by step guide for employers which explains the process in detail.
It’s worth bearing in mind that the Government has established this scheme to help businesses that cannot maintain their current workforce because they have been severely affected by Coronavirus (Covid-19). It is clear, however, that Government also recognises that different businesses will be affected in different ways by this emergency.
We would recommend that you retain any records of company decisions that have led you to apply for the scheme, or keep a note as to your rationale when applying for the funding, from a good corporate governance perspective.
The scheme will run for 4 months from 1st March 2020, but may be extended, and employers can use this scheme for any time during that 4-month period.
For information on this scheme, and other Government support packages, please click here.