Financial support for businesses in second lockdown
02 November 2020
As England goes in to a four week lockdown, Chancellor Rishi Sunak announced that the furlough scheme will be extended to cover the period from November 4 to December and that grants will also be made available for businesses required to shut.
Job Retention Scheme
- The Furlough scheme will remain open until December, with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500.
- Under the extended scheme, the cost for employers of retaining workers will be reduced compared to the scheme ending October 31.
- This means the extended furlough scheme is more generous for employers than it was in October.
For more information and to check if you are eligible click here.
Businesses required to close in England due to local or national restrictions will be eligible for the following:
- For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
- For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
- For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.
For more information and to see if you are eligible click here.