Furlough scheme extended to March 2021….

In a surprise early announcement, Chancellor Rishi Sunak, has extended the 80% of wages furlough scheme until March 2021. It is claimed that this announcement is an to attempt to give some reassurance to businesses that support is there in the longer term should it be required and to preserve job throughout Christmas rather than an indication that the current lock down restrictions will last longer than the predicted 2nd December 2020.

Details are limited but the Self Employment Grant is also being extended at 80% of average profits to include December and January.

These measures will be reviewed in January 2021 with no details of levels of contributions for either scheme.