The Government have confirmed that this should be up and running next week. Claims may take some time to process as HMRC carry out verification checks. Some important points to note include –
1. There needs to be written confirmation from the employer to the employee that they are being furloughed. This record needs to be kept for 5 years.
2. Furloughed employees need to have been on the payroll on or before 19th March 2020. Any employees on payroll at 28th February 2020 who were made redundant or stopped working may be re-employed and furloughed.
3. 80% of the employees wages, up to a maximum of £2,500, may be claimed per month. The 80% is calculated based on the last pay period prior to 19th March 2020.
4. Any employees you place on furlough must be furloughed for a minimum period of 3 consecutive weeks. When they return to work, they must be taken off furlough. Employees can be furloughed multiple times, but each separate instance must be for a minimum period of 3 consecutive weeks.