A new Treasury Direction for the Coronavirus Job Retention Scheme has been published today which seeks to clarify a number of issues from the first version, and confirms the original extension of the Furlough Scheme until 30th June (despite the fact that we already know it is being extended on the current terms until the 31st July). We are expecting an announcement from the Chancellor next week with regard to the furlough scheme extension until October, and thereafter there will inevitably be further updates to the Direction and HMRC guidance as a result.
As such, this seems rather obscure timing – however there is a track record for these releases being made on a Friday before a Bank Holiday so possibly they didn’t want to disappoint us!
For fun bank holiday reading, you can read the new Direction here: Treasury Direction for the Coronavirus Job Retention Scheme.
We will, of course, be updating our guidance once we have completed a detailed analysis of the changes.
