COVID-19 Support: Plan for Jobs

On 8 July 2020 the Chancellor made announcements on the theme ‘Plan for Jobs’. Below is a summary of the key points:

Job Retention Bonus – This is currently under review by the government.

Apprenticeships – The government will introduce a new payment of £2,000 to employers in England for each new apprentice they hire aged under 25, and a £1,500 payment for each new apprentice they hire aged 25 and over, from 1st August 2020 to 31st January 2021. These payments will be in addition to the existing £1,000 payment the government already provides for new 16-18 year-old apprentices, and those aged under 25 with an Education, Health and Care Plan – where that applies.

Green Homes Grant – The government will providing at least £2 for every £1 homeowners and landlords spend to make their homes more energy efficient, up to £5,000 per household. For those on the lowest incomes, the scheme will fully fund energy efficiency measures of up to £10,000 per household.

Eat Out to Help Out –This scheme has now closed.

Temporary VAT cut for food and non-alcoholic drinks – From 15 July 2020 to 12 January 2021 the reduced (5%) rate of VAT will apply to supplies of food and non-alcoholic drinks from restaurants, pubs, bars, cafés and similar premises across the UK. Further guidance on the scope of this relief will be has been published by HMRC here.

Temporary Stamp Duty Land Tax (SDLT) cut – The government will temporarily increase the Nil Rate Band of Residential SDLT, in England and Northern Ireland, from £125,000 to £500,000. This will apply from 8 July 2020 until 31 March 2021.

The full detail of this announcement can be found here.