Government Grants

5 Things You Need to Know About the Furlough Scheme

5 Things You Need to Know About the Furlough Scheme

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As part of the United Kingdom’s response to the unprecedented COVID-19 pandemic, the government has introduced the Coronavirus Job Retention Scheme or the Furlough Scheme. In this initiative, employers will be given government support to continue paying part of the furloughed employees’ salaries until October 31. What Is Furlough? But first, what does the word “furlough” mean? Generally, “furlough” …

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Kickstarter Scheme – Government to Encourage Employing of 16-24-year old on Universal Credit

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The new Kickstarter scheme unveiled by Chancellor Rishi Sunak during the summer statement aims to help the employment of workers under 16-24 years old by funding employers with a £2 billion budget. The Kickstarter scheme – the program benefits young workers who are currently under the Universal Credit program, which is a government-funded initiative that helps low-income …

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Job Retention Bonus – £1k to those who Retain Furloughed Employees until January 2021

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As the Coronavirus Job Retention Scheme (CJRS) winds down, Chancellor Rishi Sunak introduced a job retention bonus payment of £1,000 to employers for every furloughed personnel they bring back to work.   The incentive is part of a comprehensive scheme called “A Plan for Jobs 2020”. It is built to protect livelihoods and save the declining economy, which …

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Government Provides Employers £1000 to Take on Trainees

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Chancellor Rishi Sunak announced in his summer statement that the government would be providing £1000 for every trainee that employers will accept. With the UK economy hard hit by the COVID-19 pandemic, the government is taking measures to rebuild and ensure that jobs are protected. They also put projects in place to remedy the unemployment rate, one …

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£2bn Green Home Grant for Homeowners

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Households are set to receive grants of up to £10,000 to make their homes eco-friendly and save over £600 a year on energy bills while cutting carbon emissions at the same time which is also called the green home grant. But how does the scheme work? And more importantly, how does it impact contractors and tradespeople? As …

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£2k To Encourage the Hiring of Apprentices

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With the rampant rise of the unemployment rate, the Chancellor announced from the summer statement, a brand-new incentive for businesses—a bonus payment of £2,000 for every apprentice they take on or hiring an apprentice. But, how will this affect both sides of the coin? In his last economic statement, Chancellor Rishi Sunak offered companies a package deal …

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Temporary Stamp Duty Holiday in England And Northern Ireland

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The UK declared a stamp duty holiday effective from July 15 to March 31, 2021, in relation to the summer statement 2020 by the chancellor. But what is it? More importantly, how will it affect you? In light of the current pandemic, UK’s chancellor Rishi Sunak has temporarily put stamp duty land tax on a holiday. This means …

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What is the Eat Out to Help Out Scheme Initiative?

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Restaurant owners are the benefactors the United Kingdom government for their latest initiative that will help kickstart the economy, by encouraging people to go out, which is the Eat Out to Help Out scheme. At a time when businesses need support to remain in business, Chancellor Rishi Sunak announced the “Eat Out to Help Out” part of …

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VAT Cut for the Hospitality Sector

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Covid-19 has forced many difficult decisions to be made. When the UK government urged people to avoid social contact and stay at home, it was to slow the spread of the disease. However, it also had another effect. One of the consequences of flattening the curve is a chilling effect on the economy. For the hospitality …

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2020 Summer Statement by Chancellor Sunak of UK

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Chancellor Rishi Sunak delivered his Summer Economic Update where he broke down the UK government’s strategies and corresponding budget for the next phase of promoting economic recovery which is the summer statement. Because the COVID-19 pandemic wasn’t just a health crisis but an economic problem as well, a lot of industries have been hit, some …

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