The Chancellor, Rishi Sunak, has announced that the Coronavirus Job Retention Scheme (CJRS) has been extended until 30 April 2021.
The government will continue to pay 80% of the salary of employees for hours not worked until the end of April. Employers will only be required to pay wages, National Insurance Contributions (NICS) and pensions for hours worked; and NICS and pensions for hours not worked.
Businesses will also be given until the end of March to access the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and the Coronavirus Large Business Interruption Loan Scheme. These had been due to close at the end of January.
The government has already announced that more support will be available beyond March, through a successor loan scheme. More details of the scheme will be announced in due course, with the government providing a further update on wider Covid-19 economic support at the Budget which will be delivered on 3 March.
For further information about the CJRS and other measures announced by the Chancellor to protect individuals and businesses, visit: COVID-19: Support for UK businesses