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Government makes further changes to Coronavirus Job Retention Scheme

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Originally written by Timothy Adler on Small Business
UPDATED: The government has announced further changes to the Coronavirus Job Retention Scheme (CJRS).
The scheme, also known as furlough, has been extended until the end of March, with furloughed employees being paid 80 per cent of their wages until January 2021. It will be reviewed at this point.
What happens when furlough ends?
Rishi Sunak’s previous plan was to wind up the furlough scheme on October 31. After that, staff returning to work would’ve been moved onto the less generous Job Support Scheme (JSS). JSS has been put on hold.
But now that the furlough scheme has been extended until the end of March, furloughed employees will remain on the Job Retention Scheme, with the government paying up to 80 per cent of staff wages (capped at £2,500 a month). Anyone made redundant after September 23 can be rehired and put back on furlough.
Can you work while on furlough?
No, employees cannot take on any work for, or on behalf of, their employer while they’re on furlough. Nor can they take on any work linked or associated with their employer. This includes providing services (that includes attending meetings) and generating revenue for the business.
Employees can undertake study and

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Hot Business News Today

Sunak extends furlough to whole of UK until March 2021

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Originally written by Anna Jordan on Small Business
UPDATED: Rishi Sunak has extended the 80 per cent furlough scheme until the end of March 2021, capped at £2,500 per worker.
The extended furlough scheme will operate across the UK, not just England as originally announced, and employers need only cover National Insurance and pension contributions.
To be eligible for the scheme, employees do not need to have been placed on furlough previously but must have been on an employer’s RTI payroll submission on or before October 30 2020.
An employer may rehire an employee to place them on furlough if they were made redundant after September 23.
Further guidance is due to be released on November 10.
However, it is unlikely that many businesses, having gone through the process and cost of the redundancy, will have a change of heart and rehire employeees – leaving the chancellor open to criticism that he should have been bolder and extended the furlough earlier.
The Bank of England said it expects 5.5 million people to be on the furlough scheme this month, which the Resolution Foundation said would cost £6.2bn. The cost in future months will be lower if the economy reopens. At the height of the pandemic in April

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