CORONAVIRUS RECOVERY PLAN

The Chancellor announced a raft of measures today to help the UK economy through the next phase of the pandemic.  

Job Retention Bonus

Government to pay companies a bonus of £1000 to bring employees back from furlough.

(Employees must be paid £520 per month through to January 2021)

Kick Start Scheme

The Government will make payments to employers to help create new jobs for 16-24 year olds, and payments of £1000 to take on trainees.  There will be grants of £2000 available to employers to encourage new apprenticeship schemes.

Stamp Duty

The Chancellor announced an immediate cut to stamp duty until March 2021.  Buyers will pay no stamp duty on first £500,000 when they move home.

Green Jobs Plan

A £2bn Green Jobs Grant was announced to help enable homeowners and landlords.  Vouchers will be available to make homes more energy efficient and help create local jobs.

VAT Reduction

VAT will be reduced for the hospitality and tourism sectors from next Wednesday until Jan 12 2021.

Eat out to help out scheme

A discounted eating out scheme will take place in August. Meals eaten at any participating business, Monday to Wednesday, will be 50% off, up to a maximum discount of £10 per head for everyone, including children.  Businesses will need to register from Monday to participate.

For further information on any of these schemes can be found at GOV.UK