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Job Retention & Self-Employed Income Support Scheme changes

Posted by Admin Posted on 29 May 2020

The Chancellor has today announced changes to both of these schemes.

The Job Retention Scheme (JRS) will continue in its current format until the end of July; however, employees may work part-time for their employers from 1st July and still remain on the JRS although claims will be amended accordingly. For August the Government will again contribute 80% of furloughed employees wages (up to a maximum of £2,500), but employers will not be able to claim back employer's national insurance and employer's pension contributions. For September the Government's contribution will be 70%, with the employer contributing 10%, and for October the ratio will be 60% and 20%. The scheme will cease on 31st October.

The Self-Employed Income Support Scheme has also been extended. Those eligible will be able to make a second and final claim in August for an additional 3 months average profit. This will be set at 70% of average profits. limited to a maximum of £6,570. The scheme will then close.