The government has announced several measures this month to get the UK economy going again as the COVID-19 lockdown measures are eased.
To give you a quick overview:
- You’ll be able to claim £1,000 for each employee who remains continuously employed through to the end of January 2021. Employees must earn above the Lower Earnings Limit (£520 per month) on average between the end of the Coronavirus Job Retention Scheme and the end of January 2021. Payments will be made from February 2021. Further detail about the scheme will be announced by the end of July.
- There are various incentives to employ 16-24 year-olds. These include the ‘Kick Start’ program for those on Universal Credit, apprenticeships (also open to 25+), and traineeships and apprenticeship incentives/bonuses
- Homebuyers won’t pay stamp duty on the first £500,000 of a property’s purchase price (until 31st March 2021 – not available in Scotland or Wales)
- Hospitality and tourism VAT cut to 5% on some goods and services from 15th July 2020 to 12th January 2021
- 50% food discount vouchers for anyone eating in any participating restaurant, café, pub – Monday to Wednesday in August (up to £10 per head
