Update: Job Retention Bonus (JRB)

Posted: Nov 19, 2020
Expert:
Narendra Mistry

The £1,000 JRB will not now be paid in February as a result of the CJRS extension. However, the Treasury says it will “redeploy a retention incentive at the appropriate time”.  

Additional support measures

Additional measures are also available for businesses and individuals affected by this second lockdown, including:

  • Cash grants for closed businesses in England of up to £3,000 a month.
  • Extension of the date to apply for a mortgage payment holiday for homeowners, expected to be 31 January 2021, with a new maximum total holiday period of six months.
  • One-off payment grants from local authorities.
  • An increase of £2bn in guaranteed funding for the devolved administrations.
  • Government-backed loan schemes - the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and the Future Fund - have also been extended through to the end of January.

The Financial Conduct Authority (FCA) has published draft guidance across a range of issues which include the following; 

  • Consumer credit
  • Personal loans
  • Credit cards

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