Furlough Scheme extended to April 2021
To provide UK businesses support into 2021, the UK Government has announced that the current furlough scheme will be extended to 30 April and businesses will be able to apply for the dedicated coronavirus business support loans until the end of March.
Furlough Scheme (CJRS)
The Chancellor was to review the employer contribution element of the CJRS in January, to decide the level of support for February to April. This review has been brought forward to allow businesses to plan ahead into 2021. The current CJRS will run through to 30 April 2021 with no changes. The eligibility criteria will remain unchanged with 80% of salaries paid by the government.
Coronavirus Business Support Loans
Coronavirus business support loans were due to close at the end of January 2021. Due to the continuing coronavirus restrictions, the UK Government recognise businesses are still being hard hit. As such the deadline for applications for government guaranteed business loans has been extended to 31 March 2021. This extension applies to the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and the Coronavirus Large Business Interruption Loan Scheme. This extension applies to new applications and further borrowings (where allowed)
Links
Our previous updates can be found on Facebook and LinkedIn or on our website blog.
A UK Government general COVID-19 support website can be found here. It contains guidance on all matters pertaining to the Coronavirus.
