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CJRS extended until March

5th November, 2020

In his briefing on 31st October, the Prime Minister announced additional financial support measures for businesses across the UK as part of the government’s plan to keep the economy moving through the new national lockdown. This includes extending the Coronavirus Job Retention Scheme (CJRS), with the Chancellor later confirming that the scheme will continue running until the end of March. Nottingham chartered accountants Clayton & Brewill provides an overview of the measures.

CJRS extended

CJRS extendedThe CJRS had originally been planned to come to a close on 31st October 2020. But in his briefing, Boris Johnson revealed that the furlough scheme will be extended as the nation enters a new national lockdown, set to come into force on 5th November until 1st December 2020. Initially extended to December, Chancellor Rishi Sunak later revealed it will be further extended to March 2021 in a bid to give businesses security through the winter.

Having been scaled back in October to cover 60% of salaries, the furlough scheme will continue on in its flexible format. However, furloughed employees will now receive 80% of their current salary for hours not worked, up to a maximum of £2,500. The furlough scheme will retain its flexibility; this allows employers to bring furloughed employees back to work on a part-time basis or furlough them full-time.

Employers will continue to pay for hours worked as normal. They will also be asked to cover National Insurance and employer pension contributions for hours not worked.

The Job Support Scheme, which was set to be introduced this month, will now be put on hold. It is expected to come into force when the CJRS ends in December.

Who is eligible?

To be eligible for the extended furlough scheme, employees must be on an employer’s PAYE payroll by the 30th October 2020. This means a Real Time Information (RTI) submission notifying payment for that employee to HMRC must have been made on or before 30th October 2020.

Employees on any type of contract are eligible. It would be wise for all businesses using the CJRS to keep detailed records of workers’ pay and hours worked, so that it will be easier to make the claims once the portal is available.

Clayton & Brewill can calculate a CJRS claim total for you and submit it on your behalf. We’ve already taken care of hundreds of claims for both existing and new clients, with a range of payroll sizes. If you need help making a claim, please do get in touch.

Local Restrictions Support Grant

Business premises across England that have no choice but to close will receive grants worth up to £3,000 per month under the Local Restrictions Support Grant.

  • Premises with a rateable value of £15k or under will receive £1,334 per month, or £667 per two weeks;
  • Those with a rateable value of between £15k-£51k will receive £2,000 per month, or £1,000 per two weeks;
  • Those with a rateable value of £51k or over will receive £3,000 per month, or £1,500 per two weeks.

Mortgage holidays extended

Mortgage holidays are also being extended. Borrowers who have been impacted by coronavirus and have not yet had a mortgage payment holiday will be entitled to a six-month holiday. Those who have already started a mortgage payment holiday will be able to top up to six months without this being recorded on their credit file.

For help with making a fast and accurate claim on the CJRS portal, or to discuss any of the measures announced in the Prime Minister’s briefing, please email Doug Perry, or get in touch with the Clayton & Brewill team here.

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