08 July 2020
Rishi Sunak's Summer Economic Update introduced a range of new initiatives to help restart the economy following Covid-19, including:
- A VAT reduction for the hospitality sector to 5% from 15 July 2020 to 12 January 2021. Read our blog here.
- New 'Eat out to help out' vouchers for all adults and children during August
- Newly announced £9bn retention scheme for employers bringing back employees from furlough. Read more about it here.
- 'Kickstart scheme' to encourage 6 month work placements for 16-24 year olds. Read more here.
- Temporary cut in stamp duty - raising the threshold from £125,000 to £500,000
- £2bn green homes grant to make homes more energy efficient
A full summary of all announcements
We will be issuing a complete summary of the Summer Economic Update tomorrow, which will offer a clear and concise commentary of the proposals, focusing on the issues pertinent to you, your family and your business. Please visit our site again tomorrow to download the full summary, or sign-up to receive an emailed copy at: https://www.uhy-uk.com/contact-us/subscribe/
