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If you stand by your workers, we will stand by you – Chancellor Mr. Rishi Sunak

Few highlights of 8th July 2020 speech

  1. Vat on Hospitality and Tourism Sector will reduce to 5% from existing 20% from 15th July 2020 till 12th January 2021. This will not be applicable to sell of alcohol.
  2. Stamp Duty Land Tax : If you purchase your first home from 8th July 2020 till 31st March 2021, there will be no Stamp Duty until £500,000.00. For additional properties purchase, higher rate charge of 3% will apply above the revised rate till aforesaid period.
  3. Provision of Eat Out To Help Out (EOTHO) vouchers to diners subject to conditions in order to help the hospitality sectors.
  4. Job Retention Bonus to Employers if they retain employees after Furlough Scheme ends by 31st October 2020. £1,000 per employment subject to conditions until 31st January 2021.
  5. Kick Start Scheme to Employers creating new jobs for Young Employees from 16 to 25 Years Old at least 25 hours per week. The scheme will be on for a period of six months.
  6. Green Home Grant to make houses Green Friendly and mean while creating local jobs in Construction Sectors.

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