Coronavirus Job Retention Scheme: Extension Until April 2021
The Chancellor announced yesterday that the Coronavirus Job Retention Scheme (CJRS) would be extended by another month, until the end of April 2021, with employer contributions to remain unchanged until then. Although the Government originally planned to review the level of employer contributions under the CJRS in January, that review was brought forward, to enable businesses to plan ahead for the new year.
Further extensions were announced to various government-backed loans, including the Coronavirus Business Interruption Loan Scheme, until March 2021.
The latest announcement means that, until the end of April 2021, the Government will continue to pay 80% of the salary of employees for hours not worked (up to a cap of £2,500 per month), whilst employers remain responsible for the national insurance and pension contributions in respect of those hours, together with the usual salary and contributions in respect of any worked hours.
The full press release is available here.
If you require any further advice on this or any other employment matter, then please do not hesitate to contact Jonathan Bruck.
This article is provided for general information purposes only. Although every effort has been made to ensure that the information in this article is accurate, it does not constitute legal advice and should not be relied on as such. Should you require legal advice, please do not hesitate to contact us.