On 5th November the government announced that it will:
- Extend the Coronavirus Job Retention Scheme (CJRS) until the end of March for all parts of the UK (this supersedes the previous announcement that the scheme would last until 2nd December),
- Cancel the £1,000 Job Retention Bonus due to be paid in February but will instead introduce a different retention incentive at a later date, and
- Increase the third self-employed (SEISS) grant, covering November to January, to 80% of trading profits for each of the three months. Previously the grant was increased to 80% of trading profits for November, with December and January remaining at 40%. The grant will be paid out in a single instalment and will be capped at £7,500 (previously £5,600). The window for claiming the grant will open on 30 November which is two weeks earlier than originally planned. The government has already announced that there will be a fourth SEISS grant covering February to April.
Further details will be released in due course.
