Today the Chancellor announced that the Coronavirus Job Retention Scheme (CJRS) will be extended to March 2021. The scheme will see employees paid 80% of their current salary for hours not worked. The scheme has initially been extended until the 2 December 2020, after the announcement of new national lockdown measures in England.
It should be noted that the Chancellor has stated that the extension will be reviewed in January 2021. This review may see employers required to contribute towards the employee’s unworked hours.
Self-Employment Income Support Scheme (SEISS)
Grants under the SEISS will be increased, with the third grant (for period November – January) will be calculated on 80% of average trading profits, up from 55%, up to a maximum of £7,500.
Categories: Business Support, Coronavirus Scheme, Job Retention Scheme, Job Support Scheme