The Chancellor has announced a five-month extension of the furlough scheme to the end of March 2021. The next self-employed income support grant will also increase from 55% to 80% of average profits - up to £7,500.
The Coronavirus Job Retention Scheme (CJRS) will now run until the end of March with employees receiving 80% of their current salary for hours not worked (i.e. in line with the original CJRS scheme). The scheme will be reviewed in January to determine whether employers should be asked to contribute more.
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