Day: March 21, 2020

Government launches business Coronavirus Job Retention Scheme

Chancellor Rishi Sunak has announced a Coronavirus Job Retention Scheme to save small business jobs

Chancellor Rishi Sunak has announced a Coronavirus Job Retention Scheme to protect small business jobs.

Any PAYE-qualifying small business employee will qualify for the Coronavirus Job Retention Scheme, which will cover 80 per cent of a regular salary up to £2,500 a month, just above the median income.

>See also: How to get the government’s £10,000 cash grant for small businesses

Small business owners must apply to HMRC and the Coronavirus Job Retention Scheme will be backdated to March 1 to cover a three-month period.

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