Below is a brief summary of the latest announcements from the Government on how they will be support people during the current restrictions.
The Job Retention Scheme (JRS) has been extended to 31st March 2021 and increased back to 80% from the government but employers pay NI and Pensions. This will be reviewed again in January 2021 and there are also new criteria for those who have not been on furlough before.
The scope of the Self Employment Income Support Scheme (SEISS) has been increased to 80% of average profits. An eligibility check is recommended as not all businesses will be able to claim.
Applications for loan schemes such as the Bounce Back Loan or the Business Interruption Loan Scheme have been extended to 31st January 2021.