The Chancellor announced on 5 November that the Furlough scheme, the Coronavirus Job Retention Scheme (CJRS) will be extended until the end of March, and not just to December as previously announced. Employees will receive 80% of their usual salary for hours not worked, up to £2,500 a month. He also announced an extension to the Self-Employment Income Support Scheme (SEISS). Self-employed individuals can receive 80% of their average trading profits for November, instead of 40%. The SEISS is calculated over 3 months so this increases the total grant from 40% to 55% of trading profits for November to January and the maximum grant will increase to £5,160. The claims window will open at the end of November. This economic support factsheet has been published to provide guidance. Sector comment on this extension news can be read here.
