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Furlough scheme covers 8.4m workers

Posted. 28 May 2020

The number of employees who are covered by the Government's furlough scheme has passed 8.4 million, according to the Treasury.

That means 30% of the UK's 28m employees were covered by furlough scheme on 24 May 2020.

The scheme, formally known as the coronavirus job retention scheme, allows workers to receive 80% of their monthly wages up to £2,500.

More than a million...

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Fraud victims soar during pandemic

Posted. 27 May 2020

Around one in five adults have either been a victim of a pension scam since COVID-19 hit the UK, or know someone who has.

Opinium polled 2,000 adults in the UK on behalf of Canada Life in the month up to 5 May 2020, when the coronavirus outbreak was at its peak.

Of those, 19% had been victims of pension fraud, 35% cited insurance scams, and 60% were duped by bank-related cons....

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Govt. extends mortgage break scheme until October

Posted. 26 May 2020

The Government has extended a scheme that enables homeowners affected by coronavirus to take mortgage payments holidays.

Chancellor Rishi Sunak announced in March that mortgage borrowers would be entitled to payment holidays, initially lasting three months.

With that date fast approaching, however, homeowners can now defer mortgage repayments until 31 October 2020.

Figures...

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Video childcare qualifies for pension credits

Posted. 22 May 2020

Grandparents or other family members who provide childcare support over phone or video chat are still eligible for national insurance credits that can boost their state pension.

Specified adult childcare credits are available to family members who are under state pension age and care for children under the age of 12, usually while the child's parent is working.

These allow the...

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Late IR35 amendment shot down in parliament

Posted. 21 May 2020

An attempt to delay the off-payroll rules extending to the private sector by another two years has been defeated in parliament.

The last-minute campaign for a two-year deferral was triggered by the economic fallout from the coronavirus pandemic.

But MPs failed to vote on a suggested amendment to Finance Bill 2019-21, which would have seen the rules kick in from April 2023.

...
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