The Chancellor has announced additional support for businesses that are required to close due to more stringent pandemic restrictions.
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The Job Support Scheme will be expanded to allow closed businesses the ability to claim a higher level of support.
Under existing rules, which will still apply to those firms that are still trading, staff can be put on reduced hours yet still receive a minimum 73 percent of pay. The existing rules require the business to pay for the 'worked' hours and 5% of 'unworked' hours, with the government providing 61.67% of the 'unworked' pay.
The new rules, which apply to businesses completely closed due to restrictions, will provide grants to pay the salary of the employees. The amount paid will be equivalent to two thirds of regular pay (67 percent) - and subject to a monthly cap of £2,100.
The grant will essentially be the employee's gross pay, so the employer will still have to pay for employers' NICs and compulsory pension contributions out of pocket. The government states that half of all claims under the expanded scheme will be able to avoid these extra costs due to the lower wage thresholds.
The JSS job support scheme is paid in arrears, and will run from November 1st to April 2021 - but a review of support levels is to be made in January 2021.