UK Chancellor Rishi Sunak announced on December 17th an extension to the furlough scheme which is until the end of April 2021.
The government will continue paying 80% of employees’ wages for house that they weren’t able to work until end of April. Employers will only pay wages, National Insurance Contributions (NICS) and pensions for hours worked; and NICS and pensions for hours not worked. Entitlement for the scheme is still the same.
The UK government extended the scheme to help businesses and employees bounce back this 2021. Businesses are also given until end of March to have access to other Loan Schemes such as Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and Coronavirus Large Business interruption Loan Scheme.
The schemes have already provided over £68 billion loans and helped businesses thrive despite the challenges caused by the coronavirus pandemic.
If you are interested to know more about the furlough scheme and other assistance that you may need for your business, please do contact us today at +44 (0) 1892 807 001 or email us at email@example.com