Employer Pay Wages 80% Or Not

[BigRooster]

If the company I work for is shut down because of Coronavirus will they have to pay 80% of wages or is it an option they don’t have to take

[Zacs-Master]

Your company will need to apply. It’s unclear whether employers will be expected to pay the remaining 20%. Your employers may need to implement a redundancy scheme before being able to claim. All a bit unclear. I’m actually going thru this too.

[Cloverjo]

I thought the 80% was coming from the government. Not sure though. It all sounds good but it’s a bit woolly on the details, still.

[THECORBYLOON]

"Support for businesses through the Coronavirus Job Retention Scheme

Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.

Eligibility

All UK businesses are eligible.

How to access the scheme

You will need to:

designate affected employees as ‘furloughed workers,’ and notify your employees of this change - changing the status of employees remains subject to existing employment law and, depending on the employment contract, may be subject to negotiationsubmit information to HMRC about the employees that have been furloughed and their earnings through a new online portal (HMRC will set out further details on the information required)

HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. HMRC are working urgently to set up a system for reimbursement. Existing systems are not set up to facilitate payments to employers.

If your business needs short term cash flow support, you may be eligible for a Coronavirus Business Interruption Loan."

As it's not automatic, unless your employer applies for the help, nothing will be done.

[fiction-factory]

one of my employer is applying and is keeping us updated. Ask yours.