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Coronavirus – Furlough Scheme Extended Until 31 March 2021

Posted on November 6th, 2020

Rishi Sunak, Chancellor of the Exchequer, has announced that the Job Retention Scheme will be extended.

The furlough scheme would continue to contribute 80 per cent of employees wages up to £2,500 per month for the duration of the extension. However, the Job Retention Bonus, which included a £1,000 payment for businesses that brought back furloughed staff for a minimum period, will now be cancelled.

The Self-Employment Income Support Scheme Grant will also be extended and will cover 80 per cent of expected trading profits between November to January.

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