Chancellor announces new support package

The Chancellor, Rishi Sunak, has announced a new package of support for businesses:

Eat out to help out

Eat out to help out

If you sell food for immediate consumption on your premises, provide a dining area or share a dining area with another establishment for the consumption of eat-in meals, and were registered as a food business with your local authority on or before 7th July, you can register for the scheme:

  • You can offer a 50% discount, up to a maximum of £10 per person, to diners for food or non-alcoholic drinks to be consumed on the premises.
  • This discount can be offered all day, every Monday, Tuesday, and Wednesday, from 3rd to 31st August.
  • You can reclaim the money back from the government.

Details about the scheme and how to register for it can be found here.

5% VAT

5% VAT for goods and services supplied by the tourism and hospitality sectors

A temporary reduced rate of 5% VAT will be applied from 13th July 2020 to 12th January 2021. This reduced rate will apply to certain goods and supplies relating to hospitality, hotel and holiday accommodation, and admission to certain attractions. You can find full details here.

£1000 furlough

£1000 for every member of staff brought back from furlough

The government will introduce a one-off job retention payment of £1000 to employers for every furloughed employee who remains in continuous employment 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 details will be announced shortly.

Kickstart scheme

Kickstart Scheme: A Plan for Jobs 2020

In addition to the measures already announced, the government will set out the third phase of its plan in the autumn, with measures to support the longer-term recovery of the economy. This will include further plans to invest in public services, support innovation and growth-enhancing infrastructure across every region and nation of the UK. You can find further details here.