Chancellor extends Self-Employment Support Scheme and confirms furlough next steps
The SEISS is extended and the Job Retention Scheme is changing.
The Chancellor of the Exchequer has announced that the Government's Self-Employment Income Support Scheme (SEISS) will be extended. A copy of the factsheet for SEISS and CJRS is available here.
Those eligible will be able to claim a second and final grant in August. The grant will be worth 70 percent of their average monthly trading profits, paid out in a single instalment covering three months' worth of profits, and capped at £6,570 in total.
From 1 July 2020, employers can bring back to work employees that have previously been furloughed for any amount of time and any shift pattern, while still being able to claim the CJRS grant for their normal hours not worked. When claiming the CJRS grant for furloughed hours, employers will need to report and claim for a minimum period of a week.
The scheme will close to new entrants from 30 June 2020. From this point onwards, employers will only be able to furlough employees that they have furloughed for a full three week period prior to 30 June.
This means that the final date by which an employer can furlough an employee for the first time will be 10 June 2020, in order for the current three week furlough period to be completed by 30 June. Employers will have until 31 July to make any claims in respect of the period to 30 June.
Further guidance on flexible furloughing and how employers should calculate claims will be published on 12 June 2020. Find out more about how the Coronavirus Job Retention Scheme is changing.