Full furlough and CBILS extension news
As of today, 18th December 2020, HMRC has announced that it wants to remove as much uncertainty as possible for businesses planning their staffing and finance for the first quarter of next year.
So this is what they’ve announced:
- Furlough (CJRS) will remain at the full 80% with no contribution from employers other than the existing NI and basic pension contribution, until the end of April 2021.
- Government loans are being extended for take up til the end of March. Businesses will also be given until the end of March to access the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and the Coronavirus Large Business Interruption Loan Scheme. These had been due to close at the end of January
- And they’ve announced that the budget will be on 3rd March 2021.
If you would like to read more about this, please click here