Here is a 2 minute summary of the Chancellor, Rishi Sunak’s Summer Statement:
The job retention scheme
£1,000 payment to employers for bringing back furloughed employees from Nov 2020 to Jan 2021 paying a minimum of £520/month.
£1,000 payment to employers for bringing back furloughed employees from Nov 2020 to Jan 2021 paying a minimum of £520/month.Tweet
From next month employers who employ 16-24 year olds, the government will pay the wages up to 6 months. Up to a max of £6,500.
The government will pay employers £1,000 per trainee they take on.
The government will pay employers who take on apprentices within the next 6 months £2,000 per apprentice
Plus a bonus of £1,500 if the apprentice is 25+ years of age.
Green homes grant
Homeowners will be able to apply for grants to make their homes more energy efficient. £5,000 per household.
Cut in stamp duty of 0% from homes under £500,000
For transactions up to 31 March 2021.
Cut in VAT for the hospitality sector:
From 20% to 5% effective now until 12 January 2021.
Cut in VAT for the hospitality sector : From 20% to 5% effective now until 12 January 2021.Tweet
Eat out to help out scheme
For the month of August only.
For eating out between Monday to Wednesday food will be 50% off, up to a value of £10/ head rebate from the government.
Consumers, which includes adults and children. You will need to register through a website to make a claim and the government will refund you directly into your bank account.
For the month of August only.For eating out between Monday to Wednesday food will be 50% off, up to a value of £10/ head rebate from the government.Tweet