Coronavirus Job Retention Scheme (CJRS): Support Extended03 Mar 2021 // Insights
Employment Associate Fiona Mendel comments on the Coronavirus Job Retention Scheme extension to September 2021.
The Government has confirmed the decision to extend the furlough scheme until 30 September 2021.
Full guidance is due to be released. For now, details on the furlough scheme and other initiatives are:
- Until 30 June 2021, the Government will continue to pay 80% of wages for furloughed employees capped at £2,500 a month per each eligible employee.
- From 1 July 2021, the Government support will taper off, with the Government paying 70% of wages capped at £2,187.50 a month, with employers covering the remaining 10%.
- From 1 August 2021, the Government will pay 60% of wages up £1,875 a month, with employers covering the remaining 20%.
- The self-employed income support scheme has been extended and the pool of those eligible to claim has been widened. The fourth grant will cover February to April 2021, worth 80% of average trading profits up to £7,500 for that period.
- The National Living Wage is to increase to £8.91 from April 2021.
- Incentive grants for apprenticeships to rise to £3,000 and £126m for traineeships.
Should you have any queries on the above or require any employment related advice, please contact Fiona Mendel at firstname.lastname@example.org or 020 7725 8033, or Helen Crossland at email@example.com or 020 7725 8034.