Job retention scheme

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HMRC to manage job retention scheme Chancellor Rishi Sunak has announced that the Government will pay the wages of employees unable to work due to the coronavirus pandemic, paying 80% of the salary of staff retained by their employer up to £2,500 a month. The move, which covers gross pay, will be backdated to the start of March and last for three months. Mr Sunak said the coronavirus job retention scheme, which will be run by HMRC, would be extend the "if necessary". Mr Sunak also announced that VAT payments will be deferred until the end of June, while self-assessment income tax payments for July 2020 are to be deferred for six months. The Universal Credit standard allowance for the next 12 months has been increased by £1,000 a year, as has the Working Tax Credit basic element. The Chancellor said HMRC is working to ensure the first grants are available within weeks, with businesses able to apply for relief from Monday

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