UK:
COVID-19: UK Chancellor Announces Significant Extension Of Support Packages
10 November 2020
Proskauer Rose LLP
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The UK Chancellor has today announced that the Coronavirus Job
Retention Scheme (the furlough scheme) and the Self-Employment
Income Support Scheme (SEISS) will be extended against "a
worsening economic backdrop".
Earlier this week we reported on the UK Prime Minister's
reintroduction of the furlough scheme until 2 December 2020 (the
scheduled end date of the national lockdown) and an extended SEISS
grant for the self-employed to 80% of average trading profits for
November (
https://www.proskauertaxtalks.com/2020/11/covid-19-extension-of-economic-support-ahead-of-national-lockdown/).
Today's announcement goes further: the furlough scheme will
now be extended until the end of March 2021 (with a review in
January 2021) and the SEISS grant for the self-employed will now be
80% of average trading profits for November to January 2021 (up to
£7,500).
COVID-19: UK Chancellor Announces Significant
Extension Of Support Packages
Originally Published By Proskauer, November 2020
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