Rayney on furlough - does it make sense for all businesses?

The Coronavirus Job Retention Scheme – based on the 80/20 approach as per the Pareto Principle – gives businesses an invaluable lifeline but they must follow the rules. Peter Rayney FCA CTA, our favourite tax expert and vice president of the Chartered Institute of Taxation (CIOT), examines the potential pitfalls of the emergency covid-19 furlough rules

A number of essential or necessary businesses, such as those involved in food, health and specialised manufacturing operations - will have had varying degrees of immunity from the ravages of the current Coronavirus pandemic (‘Covid-19’). On the other hand, there are vast swathes of businesses that have experienced unprecedented seismic shocks to their activities. For many, the goal is simply to survive until some semblance of economic activity emerges.

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