Budget 2021 – The Employment Law Implications

News  |   5 March 2021

Chancellor, Rishi Sunak, announced the contents of his Budget on 3 March 2021 which included new measures to help business and jobs as the country is led out of its third lockdown.

The key employment related points are:

  1. Coronavirus Job Retention Scheme - The furlough scheme has been extended until the end of September 2021. The Government will continue to pay 80% of employees’ wages for hours not worked but employers will be asked to contribute towards the costs starting at 10% in July and rising to 20% in August and September.
  2. Self-employment Income Support Scheme - Support for the self-employed has been also been extended until September 2021 to provide for payment of a fourth, at 80% of average monthly profits (capped at £2,500), and a fifth grant to those whose turnover has fallen by 30% or more. Those eligible to claim has also been extended to the newly self-employed, encompassing those who filed a tax return for 2019/2020. Those
  3. National Living Wage – is set to increase to £8.91 an hour from April 2021.

Advice

If you need assistance or advice on the contents of this article, please contact the Employment Team at Thackray Williams LLP 020 8290 0440.

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