Furlough Scheme Extended
In response to the latest resurgence of COVID-19 across the UK, the UK Government have extended the Coronavirus Job Retention Scheme until 30th April 2021 with the government continuing to contribute 80% towards wages.
Employers will only be required to pay wages, National Insurance Contributions (NICS) and pensions for hours worked; and NICS and pensions for hours not worked.
The eligibility criteria for the UK-wide scheme will remain unchanged.
In addition, businesses will also be given until the end of March to access the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and the Coronavirus Large Business Interruption Loan Scheme. These had been due to close at the end of January.
These changes come ahead of the UK Budget, which the Chancellor has confirmed will take place on 3 March 2021. This will deliver the next phase of the plan to tackle the virus and protect jobs, so the extensions to the business loan and furlough schemes enable businesses to plan with certainty and access support in the first few months of the New Year ahead of the further update on wider COVID-19 economic support.
You can access the updated UK Government guidance here:
Claim for wages through the Coronavirus Job Retention Scheme – GOV.UK (www.gov.uk)
Calculate how much you can claim using the Coronavirus Job Retention Scheme – GOV.UK (www.gov.uk)
Steps to take before calculating your claim using the Coronavirus Job Retention Scheme – GOV.UK (www.gov.uk)
Check if you can claim for your employees’ wages through the Coronavirus Job Retention Scheme – GOV.UK (www.gov.uk)