Following the announcement by Boris Johnson on Saturday, and the resultant approval in Parliament yesterday, we are today back in a national lockdown.
I’ve included below the various financial supports that have been announced to assist during this time:
FOR EMPLOYERS – THE FURLOUGH SCHEME HAS BEEN EXTENDED
This was due to end on 31st October and be replaced by the Job Support Scheme (per my previous email to you last Friday), however the Furlough Scheme has now been extended to December.
Here are the key elements of this extension:
• The UK government will pay 80% of wages for the hours furloughed employees do not work, up to a cap of £2,500
• Employers will need to pay all employer National Insurance Contributions and pensions contributions
• Employees can choose to top up their furloughed employee’s wages beyond the 80% paid by the government, but they don’t have to
• Any employees to be furloughed must have been employed before 30th October and have been included on a Real Time Information submission to HMRC
• The employee does not have to have been previously furloughed
• The employer does not have to have previously used the furlough scheme
The Job Support Scheme has been postponed until at least December.
FOR BUSINESSES REQUIRED TO CLOSE – BUSINESS GRANTS
Businesses required to close in England will be eligible for the following monthly grants:
|Rateable value||Grant Available|
|Less than £15,000||£1,334||Between £15,000 and £51,000||£2,000|
FOR THE SELF EMPLOYED – SEISS GRANT EXTENSION
This grant extension provides support to the self-employed in the form of two grants, one for November to January and one for February to April.
• The first grant (November to January) which was previously for 40% of trading profits has been increased to 55%. This can be claimed online from 30 November 2020.
• The second grant (February to April) will be reviewed and levels set in due course
For further information please see https://www.gov.uk/government/publications/self-employment-income-support-scheme-grant-extension/self-employment-income-support-scheme-grant-extension