The Chancellor has announced today changes to the Job Support Scheme which will provide further support for Businesses impacted by Coronavirus. The Chancellor’s new measures are available to businesses in any tier with the exception of the grants that are only available in tier 2 and 3.
The original JSS saw employers paying a third of their employees’ wages for hours not worked, and required employers to be working 33% of their normal hours. Today’s announcement changes this by:
Reducing the employer contribution for unworked hours to just 5%
Reduces the minimum hours requirements to 20%, so those working just one day a week will be eligible.
Increasing the profits covered by the new SEISS payments from 20 per cent to 40 per cent, meaning the maximum grant will increase from £1,875 to £3,750.
Cash grants of up to £2,100 per month primarily for businesses in the hospitality, accommodation and leisure sector who may be adversely impacted by the restrictions in high-alert level areas.
Other key elements are:
Employers will continue to receive the £1,000 Job Retention Bonus.
The Job Support Scheme Closed for businesses legally required to close remains unchanged.
Find out more here