On 24 September 2020, Rishi Sunak announced his ‘winter economy plan’. This is not an extension of the furlough scheme, which still ends on 31 October 2020 as planned.
The replacement ‘job support scheme’ will run for six months between 1 November 2020 and 30 April 2021. This is less generous than the furlough scheme but more flexible, essentially encouraging employers to give staff as many hours as they can or need to.
In addition, there were other extensions announced including the self-employed income support scheme, CBILS and more time to pay income tax bills and deferred VAT.
Read our update to find out more about these extensions and how this will impact you and your business.