The government has issued what we might fervently hope will be the final piece of the jigsaw on the latest extension to the Coronavirus Job Retention Scheme (CJRS) – the Treasury Direction.
This is the fourth Treasury Direction (TD4) that has been issued in relation to the CJRS. TD4 sets out the law that will govern the extension of the Scheme, at least up until 31 January 2021, and formally withdraws the Job Retention Bonus Scheme. The content of the Direction largely reflects what was contained in the guidance issued last week, just expressed in a more complicated way! As mentioned in our previous alerts, the government intends to review the scheme in January so we can look forward to another Treasury Direction in the early part of next year.
We have, once again, updated our “quick guide” to reflect these latest developments.