Extension of the Coronavirus Job Retention Scheme (CJRS)/ Furlough Scheme
The Chancellor has announced that CJRS will be extended until the end of March 2021 for all parts of the UK. For claim periods running to 31 January 2021, the UK Government will pay 80% of employees’ usual wages for hours not worked, up to a cap of £2,500 per month. The UK Government will review the policy in January to decide whether economic circumstances are improving enough to ask employers to contribute more.
It was also confirmed that the Job Retention Bonus will no longer be paid in February 2021, as CJRS will be available at that time. An alternative retention incentive will be put in place at the appropriate time.
What you need to do now
If you intend to claim under the CJRS scheme and to check if you and your staff are eligible to claim, and what you need to agree with your employees, please contact us for more details.
This latest information applies for CJRS claim periods from 1 November 2020. The final date for claims for the period up to 31 October is still 30 November 2020.
Workers across the United Kingdom will benefit from increased support with a five-month extension of the furlough scheme till March 2021.