The Chancellor's Winter Plan
Information updated 22/10/20:
Chancellor Rishi Sunak has extended his initial plans for business and employment support over the winter months. The support is summarised below but please ask us if you need any further clarity as things are changing rapidly and often. Our source for information is the government website which is very useful - link shown below right.
Job Support Scheme (JSS) -
effective from 1st November
Today’s announcement reduces the employer contribution to unworked hours to just 5%, and reduces the minimum hours requirements to 20%, so those working just one day a week will be eligible. That means that if someone was being paid £587 for their unworked hours, the government would be contributing £543 and their employer only £44.
We have added more detail to our JSS scheme page.
Employers will continue to receive the £1,000 Job Retention Bonus. The Job Support Scheme Closed for businesses legally required to close remains unchanged.
The SEISS was originally capped at 20% of profits to a maximum of £1,875. The revision to this support increases the amount of profits covered to 40%, meaning the maximum grant will increase from £1,875 to £3,750.
There is approved additional funding to support cash grants of up to £2,100 per month primarily for businesses in the hospitality, accommodation and leisure sector who may be adversely impacted by the restrictions in high-alert level areas.
These grants will be available retrospectively for areas who have already been subject to restrictions, and come on top of higher levels of additional business support for Local Authorities moving into Tier 3.