With Coronavirus restrictions increasing and some businesses being forced to close, the Chancellor Rishi Sunak announced further expansion of the Job Support Scheme.
The expanded scheme will see the Government pay two thirds of employees’ salaries to those businesses which are forced to close due to Coronavirus restrictions.
The grant, which will begin on 1st November, will be capped at £2,100 per month. Employers must still pay National Insurance and Pension contributions. The scheme is due to run for six months, with a review in January 2021. You can find out more here.
With an announcement due today from Boris Johnson, it looks like a three-tiered system will be implemented in different parts of England. It is expected that the expanded Job Support Scheme will apply to those in the highest tier.
Businesses required to close down will also be entitled to a cash grant as follows:
● Small businesses with a rateable value of or below £15,000 can apply for £1,300 per month.
● Medium-sized businesses with a rateable value between £15,000 and £51,000 can apply for £2,000 per month.
● Large businesses can claim £3,000 per month.
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