This update follows our previous update on the extension of the Coronavirus Job Retention Scheme (CJRS).
As a result of the ongoing pressure of the coronavirus pandemic, on Thursday 17 December 2020, the Chancellor, Rishi Sunak, announced that the furlough scheme is again to be extended, this time for a further month until 30 April 2021.
The Chancellor also announced that the Government would continue to pay 80% of wages until the end of the Scheme – meaning that the Government contribution will not be reduced at the end of January as previously planned.
The eligibility criteria for the UK-wide scheme will remain unchanged. The Government has already announced that more support will be available beyond April 2021, through some form of successor loan scheme. More details of the scheme are expected to be announced, with the Government providing a further update on wider coronavirus economic support at the Budget on 3 March 2021.
Further detail on the extension can be found here. Watch this space in early 2021 for further coronavirus developments.
How can we help?
If you have any questions in relation to the extension of the CJRS and what this means for your business, please contact our specialist Employment team.
This article was co-written by Nikita Sandhu, Trainee Solicitor.