Job Retention Scheme (JRS) Extension
- The JRS which was due to come to an end on 31st October 2020 has now been extended until at least the beginning of December 2020.
- The Job Support Scheme, which was due to replace the JRS, has been put on a back burner.
- There will be no gap in eligibility for support between the previously announced end date of the JRS and this extension.
What is the nature of the ‘November’ JRS?
- The Government will meet the full 80% of the employees’ wages for the hours not worked, up to a maximum cap of £2,500 per month.
- The employer will still need to account for employer’s national insurance and pension costs.
- Flexible furlough can still be agreed upon, between the employer and employee, where the business remains open.
- The employer will meet the costs for any hours worked.
- The employer can top up the 80% if they so wish.
- They have a UK bank account and PAYE scheme.
- The employer does not need to have put in a JRS claim in the past.
- They must have been on the employer’s PAYE Scheme as at 23.59 on 30th October 2020.
- The Real Time Information (RTI) submission notifying the payment for that employee must have been made to HMRC on or before 30th October 2020.
How to make the claim?
- The Government will announce when the November claims can be made.
- The methodology for calculating the amount of the claim will follow along similar lines to the present JRS structure.
- Employers will need to report and claim for a minimum of 7 consecutive calendar days.
- Employers will be required to report hours worked and the usual hours an employee would be expected to work in the claim period.
Mortgage Payment Holidays
- The Covid-19 mortgage payment holiday has been extended beyond 31st October 2020.
- Those who have yet to claim a mortgage holiday can now do so for up to 6 months, without affecting their credit rating.
- Those who have already started a mortgage holiday will be able to extend this to 6 months, again without affecting their credit rating.
English Business Grants
- Properties required to close under national or local Covid-19 restrictions will be eligible for a grant based upon rateable value.
- Properties with rateable value £15,000 or under – grant of £1,334 per month or £667 per two weeks.
- Properties with rateable value £15,000 to £51,000 – grant of £2,000 per month or £1,000 per two weeks.
Properties with rateable value £51,001 or more – grant of £3,000 per month or £1,500 per two weeks.