Spring Budget statement 2023 – key aspects for individuals and business
The Chancellor’s Spring Budget, delivered by Jeremy Hunt, announced measures to fill the holes in the UK economy and said that the UK will avoid a recession in 2023.
Spring Statement 2022 – key aspects for individuals and business
Spring Statement 2022 – The chancellor responded to the latest inflation figures, with initiatives to tackle the cost of living crisis, and his planned support for households and businesses.
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…
Coronavirus Job Retention Scheme (CJRS)/Furlough changes explained
As you may be aware the Chancellor extended the furlough scheme, but on 29 May 2020 the Chancellor provided some clarity to how the furlough scheme would work after 31 July 2020. So, we’ve prepared this FAQ to help explain some of the changes. What are the key changes that will apply from July 2020? From 1 July 2020 furloughed employees will be allowed to undertake part-time work. This will affect the information an employer is required to submit when making a claim. Employers will need to provide certain information…
Chancellor’s Brexit brinkmanship puts the hold on
The continuing uncertainty over Brexit saw the Chancellor deliver a Spring Statement that was more holding plan than action plan. Following just one day after the latest rejection by Parliament of the government’s latest Brexit deal, there were few surprises but many cautions as Philip Hammond highlighted a range of alternative scenarios, depending on what happens with the country’s exit from the EU over coming weeks. That included a possible reversal to the ‘end of austerity’ he predicted in the Autumn 2018 Budget, with the Chancellor saying that he will…