On 30 September the Coronavirus Job Retention Scheme (CJRS), more commonly referred to as the furlough scheme, will finally end.

After almost a year and a half of supporting businesses up and down the country, this scheme will be withdrawn as the Government tries to manage the cost of COVID-19.

This will mark a big change for many businesses who have been reliant on this measure to retain staff.

In the final month, the Government grant will remain at 60 per cent of a person’s regular wages, leaving businesses to pick up the remaining 20 per cent of regular wages for time not worked, as well as an employee’s national insurance and workplace pension contributions.

This ensures that those who are furloughed continue to receive 80 per cent of their regular salaries during the hours that they are not working.

Of course, once the scheme has drawn to a close, some businesses will need to consider redundancies or a reduction in a worker’s hours or pay as they manage employment costs.

Employers should seek payroll advice on these steps beforehand, as it could affect other issues such as pensions, student loans, benefits and national insurance payments.

To find out how we can help you with the end of the furlough scheme and the next steps your business must take, please speak to our team today.