Furlough and financial support schemes extended
The Chancellor of the Exchequer has extended the furlough and other financial support schemes until April 30, 2021, it has been announced.
Rishi Sunak added an extra month for retailers to claim from the Coronavirus Job Retention Scheme – the previous deadline had been March 31, 2020.
The extension has been made to reflect the challenges posed by the continued coronavirus pandemic.
Under the scheme, the Government pays 80 per cent of an employees’ wages, capped at £2,500 per month.
Mr Sunak also announced that businesses will have until the end of March to apply for the Government backed Bounce Back Loan and Coronavirus Business Interruption Loan. This had been expected to close at the end of January.
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