Payroll Deduction Scheme: Coronavirus

Treasury written question – answered on 20th November 2020.

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Photo of Scott Mann Scott Mann Conservative, North Cornwall

To ask the Chancellor of the Exchequer, what plans his Department has to provide fiscal support to payroll giving organisations who have experienced a reduction in their transactions as a result of the covid-19 outbreak.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Government recognises that businesses across the economy face lower demand due to the impact of Covid-19.

The Government has announced unprecedented support for businesses during the pandemic, for which payroll giving organisations are eligible. Measures introduced by the government include VAT relief and loan guarantee schemes. The application deadline for the loan guarantee schemes – Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme and Coronavirus Large Business Interruption Loan Scheme – has been extended to the end of January 2021.

Payroll giving organisations can benefit from the recent extension to the Coronavirus Job Retention Scheme until the end of March 2021. Furloughed employees will receive 80% of their current salary for hours not worked.

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