December 18, 2020: Wheelers Words

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December 18, 2020 | Coronavirus Job Retention Scheme update + Budget News

Furlough Scheme

It was announced yesterday, that HMRC have extended the Coronavirus Job Retention Scheme for one further month until 30 April 2021. They have confirmed that the eligibility criteria will remain the same, as well as the grant support levels provided. Employers will need to continue to pay Employers NIC and pension contributions on behalf of the furloughed employee.

The news has come much earlier than expected as the planned review date was not until January 2021.

A reminder that furloughed staff should be issued with letters to confirm their new employment status and these should be signed by them to agree to the new terms and retained by the employer as evidence

Budget

The delayed Autumn Budget will now take place on 3 March 2021 and it is expected that it will set out the next phase on the plan to tackle the virus.