Chancellor’s latest update: Job Retention Scheme extended

This afternoon the Chancellor announced that the Coronavirus Job Retention Scheme has been extended until the end of June, in a bid to try to prevent widespread redundancies. He was under pressure to make a decision as larger employers need to consult with staff, 45 days ahead of any redundancies they are intending to make. Counting back from the end of May, 45 days was this weekend.

Previously, the scheme – which is a grant covering 80% of employees wages, subject to a cap of £2,500 – was due to end at the end of May.

Rishi Sunak has said that the scheme could be extended again, if necessary.

More generally, the Job Retention Scheme portal will open for applications to be submitted on Monday (20 April) and earlier this week, the Chancellor confirmed that claims will be processed within days, not weeks, meaning that funds should be available in time for April pay run – but only if applications are submitted promptly and accurately. You can read more advice and detail on this in our latest blog.

Inspire is here to help you with your Coronavirus Job Retention Scheme applications and can offer support for on a fixed-fee basis.  Please get in touch to find out more – call us on 01202 717867 or [email protected]

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