Without a doubt, the furlough scheme has provided small businesses with the means to retain staff that would otherwise have been laid-off.The government is paying 80% of furloughed employees’ wages (subject to a £2,500 maximum). From 1 August 2020, this level of support is expected to drop to say 60%.
From the same date, 1 August, the rules that effectively ban employees from working while they are furloughed is also expected to be eased and affected employees encouraged to return to part-time working.
1 June 2020 - Due date for Corporation Tax due for the year ended 31 August 2019.
10 June 2020 - The final date that employers can furlough staff for the first time
Last month, the Chancellor, Rishi Sunak, announced a number of measures to help innovative firms survive the Coronavirus pandemic. One of these measures was the launch of a special investment fund for high-growth companies impacted by the crisis, made up of funding from government and the private sector, called the Future Fund. The government has committed to an initial £250 million in funding towards the scheme. This amount will be kept under review.