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COVID-19 update: Employees to receive two-thirds of pay if businesses forced to close
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With the daily twists and turns that Coronavirus is placing on businesses and employees up and down the UK, the latest news that due to higher rates of the virus in parts of the country the government is placing tighter restrictions in some places. As a result, the Chancellor of the Exchequer, Rishi Sunak, has announced an extension of the Job Support Scheme which will see employees of businesses that are made to shut by law get two-thirds (67%) of their salaries paid by the government. This will be up to a maximum of £2,100 per employee.
Chancellor of the Exchequer, Rishi Sunak, said: “The expansion of the Job Support Scheme will provide a safety net for businesses across the UK who are required to temporarily close their doors, giving them the right support at the right time.”
Employers will need to cover NICS and pension contributions but do not need to contribute towards salaries with this scheme.
Businesses are eligible to claim the grant only while under restrictions forced on them to close and employees must be off work for a minimum of seven consecutive days.
The scheme only applies to businesses told to close and will begin on 1 November for 6 months.
Cash grants for businesses
The announcement also covered grants for businesses required to close in local lockdowns will be increased to up to £3,000 per month. Businesses will be eligible for payment sooner, after only two weeks of closure rather than three.
You can read further information from the government about the expanded Job Support Scheme here.
Accounting outsourcing services
If your business is affected and you need support to help you navigate this latest announcement to ensure that you are benefitting from the government schemes and meeting key deadlines, our team of accountants and tax advisers are on hand to help guide you through.
Get in touch and chat with us about your business accounting needs.
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