As part of the summer statement, Chancellor Rishi Sunak spoke about his plans to create and protect jobs. The 'Plan for Jobs' is a phased plan to help with the economic recovery of the UK.
The first step in this plan is to keep furloughed employees in jobs for the rest of this year. You can read more about this in our blog – Coronavirus Job Retention Scheme Update 8 July 2020.
A new Kickstart Programme is being introduced, which is aimed at helping younger people find employment. If an employer takes on a young person aged between 16-24 that has been claiming Universal Credit, they can claim 100% of their salary for up to six months from the government. The salary rate will be based on the National Minimum Wage, and the employee must be working for at least 25 hours per week. The subsidy also includes all National Insurance and Pension Contributions.
Investment is also being made into increasing apprenticeships as the government want to encourage businesses to take on apprentices and support their training. If you employ an apprentice that is aged 25 or under you will receive £2000 per apprentice. This is on top of the usual funding and support that you would typically receive.
The government has an ambitious plan to invest in green infrastructure and at the same time create new jobs in this sector.
A Green Homes Grant scheme will be available to residential homeowners and landlords to invest in home improvements which will improve energy efficiency. This includes loft and wall insulation and, in some cases, double glazing.
The scheme starts in September 2020 and homeowners and landlords can claim up to two-thirds of the cost of these home improvements.
The area that has been hardest hit by the Coronavirus pandemic is hospitality and tourism. Therefore, the government has announced a series of measures to help the recovery of this sector and to protect jobs. To find out more read our blog – Recovery of hospitality and the tourism sectors.
If you would like any more advice about supporting your employees or creating new jobs, please do contact us.
You can call 01623 490 120 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
Haidee is our Personal Tax Director and is a fully qualified tax adviser, having achieved the ATT qualification in 2006. Tax efficiency being her main concern. Specialising in taxation, Haidee provides clients with advice on personal tax, PAYE services, VAT and social security. She also provides guidance to new start-up businesses.
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When you first start a business, your focus is usually on attracting customers, generating sales and building a successful company. Few business owners spend much time thinking about how or when they will eventually leave the business.
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