Chancellor Rishi Sunak yesterday confirmed that the Coronavirus Job Retention Scheme (CJRS) will be extended until the end of March 2021.
The scheme, which was due to end on 31 December, will pay up to 80% of an employee’s wages up to £2,500 a month. Sunak advised that the policy will be reviewed in January.
Additional support
The announcement also included news of other support for those affected by coronavirus:
- The Self-Employment Income Support Scheme (SEISS) level will be increased, with the third grant covering November to January calculated at 80% of average trading profits, up to a maximum of £7,500
- Funding for the UK's devolved administrations will increase by £2bn to £16bn
For further information about the CJRS and SEISS, please see the GOV.uk website.
The information provided in this blog is for general informational purposes only and should not be considered professional advice. As far as we are aware, the content is accurate at time of publication. Torgersens assumes no responsibility for errors or omissions in the content or for any actions taken based on the information provided.
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