Originally, the Coronavirus Job Retention Scheme (CJRS) had been due to finish at the end of March 2021. Today it’s been announced that it will be extended until the end of April.

The Chancellor has today announced that the government’s support for businesses via the CJRS will stay at the current level until the end of April and that the Budget, on 3 March 2021, will set out what will happen from May onwards.

This means that the government will continue to pay 80% of the salary of employees for hours not worked until this date (subject to a cap of £2,500 per month). As now, you will only be required to pay wages, employers’ NI and pension contributions for any hours worked; and employers’ NI and pension contributions on the grant received to cover an employee’s unworked hours.

More information can be found here.

This article has been reproduced by kind permission of Indicator – FL Memo Ltd. For details of their tax-saving products please visit www.indicator-flm.co.uk or call 01233 653500.