Furlough

  • This is now to be extended until the end of March, with employees to receive 80% of the current salary for hours not worked
  • Employees on the payroll on 23rd September 2020 who were made redundant or stopped working after that date can be re-employed and claimed for. This can also apply to employees on a fixed term contract who were on the payroll where that contract expired after that date.
  • Employers will need to cover National Insurance and employer pension contributions for hours not worked
  • This extension will be reviewed in January to examine whether employers will be asked to increase contributions. This will be dependent on the economic circumstances at that time
  • The furlough return to work bonus originally due to be paid at a rate of £1,000 for every previously furloughed employee still employed at the end of January 2021 will now not take place. It will however be reviewed for the end of this new furlough period

SEISS

  • The SEISS will be increased, with the third grant covering November 2020 – January 2021 to be calculated at 80% of average trading profits up to a maximum of £7,500 (the previous announcement stated the 80% was for the month of November only)