On 12 May 2020, Rishi Sunak announced that the Coronavirus Job Retention Scheme (CJRS) was to be extended until 31 October 2020 but that changes were to be made to the CJRS and these were to be announced by the end of May.
Last Friday (29 May 2020), Rishi Sunak announced what these changes will look like and confirmed the deadline for final entrants into the CJRS. At present we have limited information as to how these will operate in practice, but set out details of what we do know below:
Further guidance is expected later in June and we will provide a further update once received.
In addition, the government announced that the Self-Employment Support Scheme will be extended to allow one further payment for self-employed individuals. The same eligibility criteria apply as for the previous payment.
Those that are eligible will be able to submit a claim for a second (or first – they do not need to have previously claimed) and final time in August 2020. The grant will be capped at £6,570 and will be worth 70% (not the previous 80% to be in line with the CJRS) of average monthly trading profits, paid out in a single instalment covering three months’ worth of profits.
For more information on the article above please contact a member of the Employment team
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