On the morning of 20 April 2020, the Coronavirus Job Retention Scheme portal went live.
The portal allows businesses to submit information in respect of their furloughed employees in order to recover 80% of a furloughed employee’s wages up to a maximum of £2,500 per month (plus employer NI and pension contributions).
In addition to activating the portal, the government has produced a number of additional resources to assist with claims and calculations:
Before making a claim, it is important to note:
HMRC reported this morning that 185,000 companies have already submitted applications on the portal, amounting to claims for approximately 1,300,000 workers and £1.5bn.
The system is said to be capable of processing 450,000 applications per hour. At the time of writing, no significant technical problems have been reported and the portal seems to be running relatively smoothly. Once logged in, we understand the application takes a few minutes to fill out, but this will vary depending on the number of furloughed employees the employer is claiming for.
The success of the portal will depend on whether the first payments start reaching employers’ accounts from early next week, in order to help protect jobs and businesses during this critical time.
For more information on the article above please contact Jessica Mann