We did our webinar on Chancellors Economic update on 9th July and here is the recording
The main items
• Job Retention bonus - £1,000 per employee brought back from furlough and kept on until January 2021. Must earn at least £521 per month.
• Kickstart scheme - To create new jobs for 16-24 year olds. Minimum of 25 hours per week plus training. Wages paid for 6 months plus unspecified amount for overheads. Applications from August 2020.
• New Apprentice scheme - One-off payment of £2.000 for taking on a new apprentice. Additional £1,500 if they are 25 or over.
• Stamp Duty cut - Stamp Duty threshold for property raised to £500,000. Effective immediately. This will revert to the current threshold on 1 April 2021.
• VAT cut - Food, accommodation and attractions. VAT rate for eligible sales will be 5% not 20%. Effective from 15 July 2020 to 12 January 2021
• Eat Out to Help Out - 50% off (up to a maximum of £10 per person) on meals including non-alcoholic drinks. Businesses will need to register to operate the scheme. Discounts provided will be reclaimable
• Green home grant - Vouchers of £5,000 to £10,000 (dependent on income) for green work on homes.
Look out for our next webinar.