Coronavirus Update – Extension of Job Retention Scheme 02/11/2020
|As a consequence of the national restrictions that take effect on 5th November 2020, the Job Retention Scheme, which was due to have finished on 31st October has been extended, and the replacement Job Support Scheme has been postponed.|
-The Scheme is extended from 1st November until December. The exact date in December has not yet been specified, though it is noted the national restrictions are due to cease on 2nd December.
-Both full-time and flexible furlough are available.
–The grant will consist of 80% of employee’s normal pay, capped at £2,500 per month. The cap is reduced in proportion to hours actually worked.
-The employer will pay Employer National Insurance and pension contributions.
-Eligible employees must have been on the PAYE payroll no later than 30th October 2020 with Real Time Information (RTI) submission to HMRC having been made by that date.
-Our Update of 13th October 2020 gave details of Local Restrictions Support Grant to be provided to businesses legally required to close. These will similarly apply to businesses legally required to close due to the new national restrictions.
For the full text of the Government announcement Click here