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Chancellor announces Plan for Jobs to help Businesses

Chancellor, Rishi Sunak announced a plan for jobs on 8 July 2020. We set out some of the key highlights. Furlough will not be extended: although it seems attractive, it will be worse for the economy to extend it. So, it will end in October 2020. A new policy has been introduced to reward and incentivise employers who successfully bring furloughed staff back – a new Jobs Retention Bonus. As an employer, if you bring someone who was furloughed and you continuously employ them through to January 2021, the Government will…

Job Retention Bonus: employers to receive £1,000 bonus

During his Summer Statement, the chancellor announced key initiatives to help the UK economy recover from the impact of the coronavirus pandemic. The introduction of the Job Retention Bonus was high up on the agenda. What is the Job Retention Bonus? The Job Retention Bonus is a one-off payment to employers for every furloughed employee retained from November 2020 (due to the furlough scheme ending October 2020) to the end of January 2021. The government will award a £1,000 bonus to the employer for each worker still employed by January…

Bonus for shared ownership buyers

First-time buyers who bought a shared ownership property in the last twelve months should check if they are due a refund on any Stamp Duty paid That's because when Chancellor Hammond extended Stamp Duty Relief available to first time buyers of shared ownership property in his Autumn 2018 budget, he also applied the extension retrospectively to any qualifying transactions that took place between 22 November 2017 and 29 October 2018. Since November 2017, relief has been available to first time buyers of shared ownership property who opted for the full…

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