Few highlights of 8th July 2020 speech
- 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.
- 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.
- Provision of Eat Out To Help Out (EOTHO) vouchers to diners subject to conditions in order to help the hospitality sectors.
- 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.
- 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.
- Green Home Grant to make houses Green Friendly and mean while creating local jobs in Construction Sectors.