The government will pay a bonus to employers for each employee that is retained after the Coronavirus Job Retention Scheme (CJRS) ends on 31 October 2020.
Employment law and tax law differ so a director can be taxed as an employee but not necessarily have the rights of an employee under the Employment Rights Act such as statutory redundancy pay, unfair dismissal, auto enrolment, National Living Wage.
A taxable grant, worth 80% of an average 3 months trading profits, was payable in June 2020. To be eligible, you must have submitted your 2018-2019 tax return on 31 January or have submited your return by 23 April 2020.
Applications for the second grant opened on 17 August 2020 and closed on 19 October 2020.
Any business which, due to coronavirus, has suffered severe downturn in operations and is unable to maintain their current workforce as usual.
On 24 September 2020, the Chancellor set out a series of new measures in response to Coronavirus and its continuing impact on the economy.