The news that the government's Coronavirus Job Retention Scheme (aka the furlough scheme) will be extended until 31 October has been broadly welcomed. 

    Tony Wickenden walks through the latest announcement from chancellor Rishi Sunak, what we know as things stand and the areas where we're waiting for further clarity. 

    He discusses the number of people and businesses currently claiming under the scheme, and the two-phase approach to how the scheme will operate.

    The job retention scheme will continue until the end of July, at which point there will be review to bring in "new flexibility".

    This is yet to be defined but Tony suggests this will consider how the scheme will allow for a gradual return to work, and how the employer contribution will work between August and the end of October.

    He also reiterates what hasn't changed under the scheme, including the amount which can be claimed, the rules around not working and carrying out shareholder responsibilities. 

    You can watch more from Tony on the various coronavirus business support schemes and the implications for advisers via this webinar - the password is Nucleus1

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