Winter Support 2020 - 2021 packages for businesses
In October 2020, Chancellor Rishi Sunak announced substantial additions to the Winter Support package, with increased support to businesses through the forthcoming Job Support and Self-employed Schemes.
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[edit] The Job Support Scheme (JSS)
When originally announced in September 2020, the JSS – in effect from 1 November 2020 – required employees to work at least 33% of their normal hours and employers to pay a third of wages for hours not worked. The October 2020 announcement reduces the minimum hours requirements to 20%, so those working only one day a week will become eligible. It also reduces the employer contribution for unworked hours to just 5%.
Note: separately from the JSS, employers are still eligible to claim a £1,000 Job Retention Bonus for all previously furloughed employees who are still employed at the end of January 2021.
For more information visit the Government’s summary webpage or go to the Job Support Scheme Open Factsheet.
[edit] Self-employed grant (SEISS)
SEISS will also be amended so that the amount of profits covered by the two forthcoming self-employed grants will rise from 20% to 40% (e.g. the maximum grant will increase from £1,875 to £3,750).
This article originally appeared on the ECA website under the headline, 'Chancellor announces further business financial support'. It was published on 23 October 2020.
--ECA
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