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BABC member MKS shares details of further extension of support schemes and Job Retention Bonus

The Chancellor has now kicked the Job Support Scheme firmly into the long grass with the Coronavirus Job Retention Scheme now extended to cover the period from 1 November 2020 to 31 March 2021.

The Job Retention Bonus, due to be paid in February 2021 at a rate of £1,000 per employee where previously furloughed employees had recommenced their employment duties, has been scrapped.

Finally, the Self-Employed Income Support Scheme has been enhanced so that the payment due to be made for the three months ended 31 January 2021 has been increased to cover 80% of profits, capped at £7,500.


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