Businesses across the UK are being provided with additional financial support following the announcement of new national restrictions from Thursday 5th November.
The Coronavirus Job Retention Scheme, also known as the furlough scheme, will now run until the end of March with employees receiving 80% of their current salary for hours not worked.
The scheme was initially extended until 2 December, but the government is now going further so that support can be put in place for long enough to help businesses recover and get back on their feet.
There are currently no employer contribution to wages for hours not worked.
Employers will only be asked to cover National Insurance and employer pension contributions for hours not worked.
This extension will be reviewed in January to examine whether the economic circumstances are improving enough for employers to be asked to increase contributions.
Business premises forced to close in England could receive grants worth up to £3,000 per month
under the Local Restrictions Support Grant.
Businesses required to close in England due to local or national restrictions will be eligible for the