The coronavirus job rentention scheme, known by many as Furlough was introduced the UK government in March 2020.
The introduction of this scheme became necessary, as the Covid-19 pandemic worsened in March 2020 across the world.
The Furlough scheme was introduced to support employees of all sectors across the UK, who might not be able to work due to the pandemic.
Employers had the opportunity to safeguard their workforce, by furloughing them and claiming 80% of their wages through this scheme.
The scheme has run since March 2020 and is expected to end in March 2021.
It has saved many companies and small businesses and their employees, as the scheme has been highly patronised.
All employers with a UK, Isle of Man or Channel Island bank account and UK PAYE schemes can claim the grant.
Employers will need to pay for employer National Insurance contributions and pension costs for their employees under this scheme.
Also, any entity with a UK payroll can apply, including businesses, charities, recruitment agencies and public authorities.
HOW TO CLAIM
Any business hoping to apply needs a Government Gateway user ID and password you got when you registered for PAYE online.
Also, you can claim before, during or after you process your payroll as long as your claim is submitted by the relevant claim deadline. You cannot submit your claim more than 14 days before your claim period end date.