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- In his budget announcement (3 March 2021) the Chancellor announced that the furlough scheme will be extended until 30 September 2021.
- The Self Employed Income Support Scheme will also be extended with a fourth grant which will be available from late April 2021 until 31 May 2021.
Coronavirus Job Retention Scheme (‘CJRS’)
- The announcement confirmed that the CJRS scheme has been extended until 30 September 2021.
- For periods ending on or before 30 June 2021 the current system applies. Employers can claim 80% of an employee’s salary for hours not worked, up to a maximum of £2,500 per month.
- From 1 July 2021, the amount paid by Government will be reduced monthly and employers will be asked to contribute towards the cost of furloughed employees’ wages.
- The full guidance on CJRS can be found here.
Self-Employment Income Support Scheme (‘SEISS’) fourth grant
- In the Budget it was also confirmed that a fourth SEISS grant will be introduced.
- The fourth grant will be available to claim from April and will cover February, March and April.
- The grant will be set at 80% of 3 months’ average trading profits, paid out in a single instalment, capped at £7,500.
- The fourth grant will take into account 2019 to 2020 tax returns and will therefore be available to those who became self-employed in tax year 2019 to 2020.
- The fourth grant will be available for 600,000 newly self-employed workers as long as they submitted a tax return by midnight on March 2.
- The rest of the eligibility criteria remain unaffected.
- It was also confirmed that a fifth and final grant will be available covering lost income from May to the end of September.
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https://www.aspirepartnership.co.uk/News/4547/budg..
