Further to the announcement and In our email earlier this week on the extension of the Coronavirus Job Retention Scheme (CJRS), the Chancellor has announced that CJRS will be extended until the end of March 2021 for all parts of the UK.
For claim periods running to 31 January 2021, the UK Government will pay 80% of employees’ usual wages for hours not worked, up to a cap of £2,500 per month. The UK Government will review the policy in January to decide whether economic circumstances are improving enough to ask employers to contribute more.
It was also confirmed that the Job Retention Bonus will no longer be paid in February 2021, as CJRS will be available at that time. An alternative retention incentive will be put in place at the appropriate time.