Houses of Parliment

Summer Statement Summary

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Highlights

  • A £1,000 Job Retention Bonus will be introduced when the Coronavirus Job Retention Scheme ends for employees who have been furloughed.
  • A new Kickstart Scheme will cover employers’ costs for new six-month work placements for trainees aged 16-24.
  • A £1,000 payment will be made to employers for each 16-24-year-old on work placement and training.
  • Employers who hire new apprentices will receive payments of up to £2,000.
  • There will be a temporary cut to Stamp Duty Land Tax on residential property, increasing the zero-rate band to £500,000 and saving purchasers up to £15,000.
  • The rate of VAT will be cut temporarily from 20% to 5% for restaurant, food, accommodation and attractions businesses.

An ‘Eat Out to Help Out’ Scheme will offer 50% meal discounts during August.


Please get in touch for more information or advice following the Summer Statement on 0808 144 5575 or email or help@armstrongwatson.co.uk.

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The Coronavirus Job Retention Scheme has been extended until 30 April 2021.

Claims for furlough days in December 2020 must be made by 14 January 2021.

You can no longer submit claims for claim periods ending on or before 31 October 2020