Furlough Scheme Extended until April

Chancellor Rishi Sunak has announced that the loan and Furlough Schemes will be extended until the end of April. This has been announced in an effort to help businesses plan for the coming months.

The Government will continue to contribute 80% towards employee salaries for hours that haven't been worked until the end of April to help to support businesses and employees. As before, employers will be expected to contribute towards hours worked as well as National Insurance Contributions and Pensions.

The eligibility requirements to claim this scheme have not changed.

This announcement comes ahead of the next UK budget which will take place on 3rd of March 2021. This budget will announce the governments extended plans to protect jobs and tackle the virus.

A successor loan scheme has been announced that will to offer support beyond March with more information to be released by the government at a later date.

Other announcements include extensions to the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and the Coronavirus Large Business Interruption Loan Scheme. All of these were originally due to finish at the end of January.

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