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With the Chancellor’s Budget just weeks away, the government is being urged to extend the furlough scheme, as a new report highlights employer concerns and the need for urgent action to protect jobs.

In a report: The Future for Furlough – Recommendations for now and for any future wage subsidy, the Chartered Institute of Personnel and Development (CIPD) are calling for government to:

  • Extend the furlough scheme to the end of June 2021 and announce that decision well in advance, and certainly ahead of the March Budget, to give businesses a long-term picture of support so they can plan effectively and not risk jobs unnecessarily.
  • Retain the Government subsidy at 80% to the end of April, reducing to 70% in May and June.
  • Introduce a lower limit to the furlough scheme, set at the National Minimum Wage, to ensure no incomes dip below this level. This is important as those that are on the lowest rates of pay are least likely to have their furlough pay topped up by their employer.

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Jonathan Boys, author of the report and labour market analyst for the CIPD, said, “The furlough scheme has been a lifeline for thousands of organisations, helping to protect jobs and keep businesses afloat. However, this latest wave of the pandemic shows that UK PLC won’t be operating as business as usual for many months yet, and that businesses need urgent help.

“Businesses need certainty now on what support will be available to them in the months ahead. Our survey shows that many want the furlough scheme to extend beyond April, but the Chancellor has said that this won’t be reviewed until March at the earliest. Businesses cannot wait that long for certainty, they need a clear indication of Government support to June at least and they need to know this in good time.

“To delay this decision unnecessarily risks losing viable jobs and increasing redundancy costs for employers, which can amount to thousands of pounds. Adding these costs to new hiring costs when businesses do open up again could prove to be a significant outlay for businesses that few will be able to afford. An early decision on extending the furlough scheme will give employers the certainty they need to make the right call for their business and their employees.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com

Why Thousands of Contractors Choose Dolan Accountancy

With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few
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