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Read on to see the available support as we prepare for our 2nd National Lockdown during the current COVID-19 Pandemic.
The Coronavirus Job Retention Scheme (CJRS or ‘furlough’) was set to end 31 October, and be replaced by the Job Support Scheme (JSS). The JSS has now been postposted until the end of the CJRS, which is currently ‘December’ with no fixed date – presumably until the end of national lockdown.
The main points of the CJRS:
We expect further guidance to be issued shortly and will update this blog when that happens.
Businesses requuired to close due to the national restrictions will be eligble for the following grants:
Business grants will be payable via your local authority – contact them or check their website for details of how to apply.
The currently available self-employed grants have also been increased from 40% to 80% of profits for November. This means the maximum grant is £5,160 for the 3 month period 1st November 2020 to January 2021 with a further grant available for the period 1st February 2021 to 30th April 2021.
Directors of their own Limited Companies will be able to claim under the Scheme, with the maximum claim amount being £575pm (if a tax efficient salary has been paid).
We’ll be updating you regularly with any additional updates. For now, get your business prepared for the 2nd National Lockdown. You can take a look at our previous blogs which may help, How to put your business on pause, and Top tips for working from home.
Full guidance from HMRC can be found here.