As uncertainty continues about how long lockdown is set to last in the UK, the government has extended the Coronavirus Job Retention Scheme (CJRS) by another month. The news comes just one day after it was announced that social distancing measures are to be kept in place for now.
Speaking about the update, Chancellor Rishi Sunak commented:
“With the extension of the coronavirus lockdown measures yesterday, it’s the right decision to extend the furlough scheme for a month to the end of June to provide clarity.”
“It’s vital for people’s livelihoods that the UK economy gets up and running again when it’s safe to do so, and I will continue to review the scheme so it’s supporting our recovery.”
The extension means that businesses now have peace of mind that they will be able to continue to pay their employees even if they can’t re-open. The scheme allows firms to furlough employees with the government paying cash grants of 80% of their wages up to a maximum of £2,500. The scheme was originally intended to open for three months with payments backdated from 1 March to the end of May.
The scheme will continue to be monitored and updated in accordance with the latest government advice. We will continue to inform you with all the latest news as we receive it.
If you would like help making a claim for the Coronavirus Job Retention Scheme, please don’t hesitate to get in touch with PKB and we’ll be more than happy to help.
You can find out more information about the scheme through our other articles including:
- Coronavirus Job Retention Scheme: A step-by-step guide for employers
- How to claim through the Coronavirus Job Retention Scheme
- Planning to claim through the Coronavirus Job Retention Scheme?
If you’re concerned about the impact that Coronavirus could have on your business, please don’t hesitate to get in touch with us.
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