The second deadline of government’s Coronavirus Job Retention Scheme (CJRS) is approaching soon. Here is what you need to do. Rishi Sunak, the Chancellor announced that the scheme will remain open until the end of October.
Rishi Sunak has announced several new plans in as the UK entered the winter months still being affected by COVID-19. The Self-Employment Income Support Scheme (SEISS) was one such plan, and while the Chancellor of the Exchequer extended the scheme, an important deadline is still approaching.
Rishi Sunak was forced to extend the closure dates of the scheme as it became evident that COVID-19 will continue to be a problem as the United Kingdom moves into 2021. Details of these extensions were announced in the Winter Economy Plan.
The main purpose of CJRS was to encourage employers to furlough staff instead of making them out of work. The scheme will close on 31 October 2020. Make your final claims for periods ending before that date by 20 November 2020 to evade a possible penalty. Moreover, if you think you have overclaimed a grant, you should inform HMRC following the steps asked here. If you are yet to make the claim enough, you must contact HMRC before 30 November 2020 to discuss and understand the increased claim.