Updates 5 November to SEISS and CJRS

Updates 5 November to SEISS and CJRS
6th November 2020 Debbie

SEISS update 5-11-20

The Chancellor has announced that the 3rd SEISS grant is being increased from 55% to 80% of the three months’ average trading profits to cover the 3 month period to January 2021; capped at £7,500. The other conditions remaining the same.

Details of how to check eligibility and claim for the 3rd grant, will be published on GOV.UK week commencing 23rd November.

There will be a further extension (a 4th payment) of the grant to cover the 3 months to April 2021, further details will be published in due course.

CJRS update 5-11-20

It was announced that CJRS will be extended until the end of March‌‌‌ 2021. For claim periods running to 31‌‌‌ January 2021, the Government will pay 80% of employees’ usual wages for hours not worked, up to a cap of £2,500 per month. The UK Government will review the policy in January to decide whether economic circumstances are improving enough to ask employers to contribute more.

It was also confirmed that the Job Retention Bonus will no longer be paid in Feb‌‌‌ruary 2021, as CJRS will be available at that time. An alternative retention incentive will be put in place at the appropriate time.

To claim under the CJRS, please look at information published at https://www.gov.uk/government/publications/extension-to-the-coronavirus-job-retention-scheme/extension-of-the-coronavirus-job-retention-scheme

This latest information applies for CJRS claim periods from 1 November 2020. The final date for claims for the period up to 31 October is still 30‌‌‌ November 2020.

The full guidance for claims from November onwards, including more information on how to calculate a claim, will be published on GOV‌‌‌.UK on Tuesday 10 November. Claims can be made from 11‌‌‌ November 2020.