05 Nov Coronavirus Financial Assistance – 5.11.20
The chancellor has announced a further extension to the Coronavirus Job Retention Scheme (furlough) across the UK today.
- The support will now be available until the end of March 2021.
- Employees will be paid 80% of their current salary, up to a maximum of £2,500 per month.
- Employees will be asked to cover the National Insurance and pension contributions for hours not worked.
- The extension will be reviewed in January to decide whether employers should contribute more.
- Employers do not need to have used the CJRS previously and employers across the UK can claim whether they are open or closed.
Further information on the new CJRS extension can be found here.
The Self-Employed Income Support Scheme will also be increased , with the third grant covering November to January calculated at 80% of average trading profits, up to a maximum of £7,500.
For further information on the SEISS, click here.
As always, please do not hesitate to get in touch by emailing email@example.com if you need any assistance.