Welcome to the second episode of Ascentis TV hosted by John Oddy, Mark Overend and Lee Kaznowski where they discuss the Lockdown announced by UK Prime Minister, Boris Johnson, and how it affects businesses, particularly in the hospitality and retail sectors as well as the impact the lockdown has on some businesses in the UK.
They also mention that France and Germany are imposing similar measures. However, the Tier Three lockdowns, scheduled to come into force on Monday for some parts of the UK, including West Yorkshire, have been postponed by three extra nights. They then move on to discuss the job retention scheme, which has been extended, and revert to the August criteria for the 80% employee wage claim. Employers must still pay national insurance and pension contributions. The hosts also address the topic of redundancy notices, and confirm that people on redundancy notice can still qualify for the job retention scheme.
We then go onto discuss that those who are currently under notice period can be further furloughed through November and can be claimed under the job retention scheme, but the employer must top up their wage to 100%. Additionally, the job retention bonus criteria remains the same, with eligible employees not being under redundancy notice and earning a total of £1,560 between November and January. However, due to the fluid nature of the current situation, it’s uncertain whether this is accurate.
About Ascentis TV
Ascentis TV is our update show that gives business leaders updates and insights on various growth-related topics such as taxation, financial management, people management and much more. The show features our amazing experts from Ascentis who have many years of experience in helping businesses grow successfully and helping individuals achieve their personal vision of success.
You can find more Ascentis TV episodes on our YouTube Channel here.