The Chancellors announcements 8th July

The Chancellor has just made the following announcements:

£1000 Jobs Retention Bonus for employers returning furloughed staff to work if still employed on 31/1/21.

Kickstart Scheme  will start in August and fund the wages and overheads of newly employed 16-24 year olds working over 25 hours per week for 6 months (up to £6500 each).

£2000 to take on new apprentices (£1500 if 25 or over).

£5K voucher scheme to make green home improvements.

Stamp duty threshold increased from £125K to £500K from today until 31/3/21.

Hospitality and tourism VAT cut to 5% from Wed 15 July until January 12th 2021 ( eat in , take out, accommodation, attractions).

New ‘Eat Out To Help Out’ scheme -50% off at registered restaurants, cafes and bars Mon to Wed. Business claims back from government (maximum £10 per customer).

A full analysis will be e mailed out to all recipients of our technical updates in the very near future.

Team 360

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