Following our previous update on 3rd November, please find below notable changes that have been released via gov.uk.

Coronavirus Job Retention Scheme (CJRS) – UPDATE

On 5^th November, the Chancellor announced that CJRS will be extended until the end of March‌‌‌ 2021.

For claim periods running to 31‌‌‌ January 2021, the Government will pay 80% of employees’ usual wages for hours not worked, up to a cap of £2,500 per month.

The Government will review the policy in January to decide whether economic circumstances are improving enough to ask employers to contribute more.

Job Retention Bonus – UPDATE

On 5^th November, the Chancellor also confirmed that the Job Retention Bonus will no longer be paid in Fe‌‌‌bruary 2021, as CJRS will be available at that time.

An alternative retention incentive will be put in place at the appropriate time.