Fund title: Coronavirus Job Retention Scheme – extension
Focus of fund/fund aims:
Coronavirus Job Retention Scheme (CJRS) – also known as the Furlough scheme – will remain open until the end of March 2021, with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500
Claims relating to November 2020 must be made by 14 December 2020. Claims relating to each subsequent month should be submitted by day 14 of the following month.
The Coronavirus Job Retention Scheme (CJRS) provides grants to UK employers to keep their workers on, rather than making them redundant during the coronavirus outbreak. The scheme had originally been due to close at the end of October but it will now remain open until the end of March 2021.
For the period of the extension, the government will pay 80% of salary costs for hours not worked by employees, up to a maximum of £2,500. Employers will only need to pay employer National Insurance Contributions (NICs) and pension contributions for the hours the employee does not work.
As under the current CJRS, flexible furloughing will be allowed in addition to full-time furloughing.
All employers with a UK bank account and UK PAYE schemes can claim the grant.
Since the CJRS is being extended, the payment of a Job Retention Bonus will not now go ahead in February 2021 as originally planned.