COVID-19 Update - Furlough scheme to be extended
UK's furlough scheme to be extended
Chancellor Rishi Sunak has announced today (17 December) that the UK's furlough scheme will be extended for an extra month until the end of April 2021. Under the furlough scheme, employees placed on leave receive 80% of their pay, up to a maximum of £2,500 a month.
Businesses will also be given until the end of March 2021 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. This announcement comes ahead of the Budget, which the Chancellor has confirmed will take place on 3 March 2021. Further information can be found here.