The Chancellor has announced today that the furlough scheme is to be extended to March 2021 along with other government support as well with the intention to review the policies in January 2021.
Furlough Scheme Extended!
The furlough scheme will be extended to March 2021.
NumberMill’s intention is to honour these payments and are awaiting for Government to publish final guidance.
Key message is, temps to keep working and if necessary, and if you are eligible, your wages will be topped up to usual levels!
PLEASE bear with us whilst we work through the detail.
- Furlough calculations will be in line with previous CJRS rules that were in place during the month of August 2020, meaning that employers will receive grants of 80% of employee wages, up to a maximum of £2,500.
- Employers will still be required to cover the costs of Employers National insurance and Employer Pension contributions.
- Flexi-furlough will still be in effect for any employees working on reduced hours with top ups based on average weekly hours less the hours that you actually did work.
Therefore in line with Government guidance, in order to receive Furlough 'top up' you must do as much work as offered to you by your agency.
- To be eligible you may or may not have received furlough via NumberMill before, but you must have been on NumberMill’s PAYE payroll by 23:59, 30th October 2020.
The government have mentioned there will be a short period where changes are made to the legal terms of the scheme and where the system itself is updated, business will be paid in arrears for this period.
For employees, remember if you stay with us until January and meet the requirements you may also be entitled to £100 bonus in February!
Self-Employment Income Support Scheme
- SEISS grant will be increased, with the third grant covering November to January calculated at 80% of average trading profits, up to a maximum of £7,500.
- Cash grants of up to £3,000 per month for businesses which are closed worth more than £1 billion every month
- £1.1 billion is being given to Local Authorities, distributed on the basis of £20 per head, for one-off payments to enable them to support businesses more broadly
- Plans to extend existing government-backed loan schemes and the Future Fund to the end of January, and an ability to top-up Bounce Back Loans
- An extension to the mortgage payment holiday for homeowners
- Up to £500 million of funding for councils to support the local public health response.
More details can be found here using the link below;