As the government has just released a list with new benefits for both businesses and individuals, we thought we would share that with you:
- A new Jobs Retention Bonus will be introduced for businesses to retain staff. They’ll be paid £1,000 for every furloughed employee they keep on up to January 2021.
- From August to January, any firm that hires a new young apprentice aged 16 to 24 will receive £2,000, while those that hire new apprentices aged 25 and over will be paid £1,500.
- The threshold for stamp duty in England and Northern Ireland will rise from £125,000 to £500,000 on residential property sold between 8 July 2020 and 31 March 2021
- Chancellor Rishi Sunak announced that he is going to cut VAT on hospitality services such as food, accommodation and attractions from 20% to 5% starting from next Wednesday.
- The Government will pay the wages of young people 16-to-24-years-olds for six months, as part of a new “kickstart” job creation scheme.