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Coronavirus Job Retention Scheme Extended

Coronavirus job retention scheme extended to the end of March 2021

16th November 2020 by Emma Moscrop

Categories: Covid-19
Tags: , , , , , ,

The government coronavirus job retention scheme (also known as furlough scheme) has been extended through to March 2021.

The job retention scheme which was initially introduced in 1 March 2020 will continue to run and provide employees with 80% of their current salary.

Similar support will be seen (and appreciated) by self-employed individuals with the Self-Employment Income Support Scheme (SEISS) providing a third grant covering November 2020 to January 2021 calculated at 80% of average trading profits.

The extensions above, come as the government recognise the lasting effects of coronavirus on businesses. At the time of writing 3.9% of businesses (averaged across all industries) have permanently ceased trading with an all industry average of 85% of businesses are currently trading (5-18 October 2020 ONS).

The effects of coronavirus are widespread, limiting businesses ability to trade safely, provide work for employees and make a profit.

The job retention scheme allows employees to be paid 80% of their wages, through the employer paying the employee initially (80% or more) and reclaiming this (80%) from HMRC.

There are nuances in the use of the furlough scheme by employers, including when the employee is paid in relation to when the employer receives the HMRC grant. In using the scheme it is vital for employers to follow reporting requirements and enter effective agreements with employees.

If you wish to discuss the impacts of coronavirus on your business, the process and requirements of the government furlough scheme, or the creation of policies to protect your employees, Laceys provides specialist employer advice. Please contact Robin Watson on 01202 755 202 or r.watson@laceyssolicitors.co.uk who will be able to help.

Emma Moscrop

Trainee Solicitor

Direct dial: 01202 755993

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Emma Moscrop

Emma joined Laceys in 2019 after completing a degree in Law with Criminology at University of South Wales. She then studied her Legal Practice Course from the University of South Wales in Cardiff.

Emma worked in a legal advice clinic assisting members of Cardiff community with legal advice on various issues before spending over two years in a local regional firm specialising in Wills, Lasting Powers of Attorney and Probate matters.

Emma is now gaining further hands on experience at Laceys working across different departments the firm has to offer so she can decide which specialist area to choose moving forward.

Outside of work Emma likes to keep fit, and has trained as both a Personal trainer and TaeKwonDo and Kickboxing instructor.

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