Martin Lewis has shared some very important advice to those who have been made redundant ahead of lockdown.
The Money Saving Expert founder has issued some guidance to those who have been recently laid off, explaining they have a chance to get back onto the furlough scheme – which has now been extended to last until March!
Chancellor of the Exchequer Rishi Sunak’s support scheme allows employers to have 80% of their workers’ wages paid while they are not working in lockdown, up to a maximum of £2,500.
Now, financial expert Martin has revealed that redundant workers can request to be added to the furlough scheme by their employer if they were let go before a certain date.
‘CONFIRMED: If you’ve been made redundant, you can be rehired and furloughed by your employer if you were employed as of 23 Sept, and on the payroll on or before 30 Oct. It won’t work for many, but many be worth asking for some,’ Martin wrote on Twitter.
Don’t forget, £20 notes expire in 2021, so ensure you spend them before they go out of circulation.
Sharing an update later, he confirmed, ‘U can be rehired & furloughed if u left voluntarily (eg for job that fell thru) as well as redundancy. Ignore 30 Oct below. The key to both’s being on payroll (ie firm submitted RTI to HMRC) by 23 Sept & left after Im not saying firms must do this, just that they can.’
‘You WILL be able to work part-time while on furlough, as now. Your employer can either put you on furlough full time, or you’ll be able to work part-time and be furloughed for the hours you don’t work,’ he added on Money Saving Expert.
“Presumably your employer will have to cover your wages at the normal rate for any hours you do work – we are checking this with the Treasury.
“Employees on all types of contract can take part. We’re assuming this means that eligibility will be the same as furlough, so those on zero-hours contracts and fixed-term contracts, as well as agency workers, will be included – though again, we’re checking the details with the Treasury.”