What happen after furlough ends?

As Government support changes with the easing of restrictions in the current crisis, planning for the future has never been more important:

  • Continue the furlough with no Government support: Work within lay-off laws, but pay your workers a fraction of their wage to stay at home if they are still not needed.
  • Short time working: Offer a set amount of days a week or a set amount of hours you will need them for, you could even have a rotational staff.
  • Pay cuts: Offer a pay cut to employees to keep them all on the payroll if you have a reduced cash flow.
  • Deferred pay: Employees get their pay cut while cash flow is bad, but as when it comes back, pay them back the money they lost.
  • Redundancies: Sometimes this is the only way to go if things are going badly.

Whatever you are deciding, you must start planning now for when the furlough ends.

Call Folkes Worton on 01384 376964

Accounting for the Future with Folkes Worton