With the Coronavirus Job Retention Scheme (CJRS) coming to an end on 31 October 2020, a lot of employers are wondering what their next step should be.
Many businesses are currently being forced to close early and are suffering a loss of footfall because of the mandatory use of facemasks in certain premises. What’s more, consumers are likely to be cautious about their spending in the coming months because of the uncertainty surrounding jobs and the economy.
Naturally, all these factors are making it difficult for businesses in the UK to stay afloat.
To replace the CJRS, the government will be introducing the Job Support Scheme (JSS) on 1 November 2020. The scheme is designed to take some of the financial burden off employers and offer employees job security.
From November, the government will contribute towards the wages of employees who are working fewer hours than normal due to Coronavirus. You can find out everything you need to know about the scheme, including who is eligible and how payments are received here.
We understand that even with a number of government schemes in place, this truly is a difficult time for a lot of businesses. PKB is on hand to offer practical advice and support for all things related to the JSS.
This includes making the decision whether to keep employees on the scheme or make them redundant. We can help you to calculate all the costs involved for either scenario so you can ensure you’re making the best decision for the future of your business.
Please get in touch with PKB today and we can discuss your options, answer any questions and help you put an effective plan in place for your business.
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