Update – 9th July 2020


Update 9 July 2020

Summer Statement, Job Retention Scheme and Self Employment Scheme

Before we get started on the Summer Statement, we just wanted to highlight a couple of key dates approaching…

Key Dates

Job Retention Scheme    Any claims for furlough for the period to 30 June must be submitted by 31 July.

Self-Employment Scheme The deadline for claims for the three-month period 1 March to 31 May must be submitted by 13 July. The application process for the second stage payment for the period 1 June to 31 August will open from 17 August. All the eligibility criteria are covered in our previous updates but crucially you must be still be adversely affected by COVID on or after 14 July.

Summer Statement

Below is not an exhaustive list of everything announced by the Chancellor but the key points which we think you, our clients, will want to know are below.

1. Job Retention Scheme

 What’s new?
A £1,000 bonus per employee for anyone still employed at 31 January 2021 who was furloughed at any point under the JRS Scheme

Are there any other eligibility criteria?

Employees will need to:

-Earn at least £520 per month on average for November, December and January

-Have been continuously employed up until at least 31‌‌‌ ‌January 2021.

When will I get the bonus?

Employers will claim the bonus From February 2021 once January payroll has been submitted to HMRC.

Further information to be released by 31 July.

2. KickStart Scheme

The Kickstart scheme will pay employers to create new jobs for any 16 to 24-year-old.

What are the criteria?

The job must be a new additional job.

Staff must be paid at least minimum wage.

How much can I claim?

The amount will cover the cost of 25 hours work a week at minimum wage.

The amount paid will be for six months and will cover wages and associated employer NI and minimum pension contributions.

When can I apply and how long will it run for?

The scheme will open for applications in August and run until 31 December 2021.

3. Apprentices

Businesses will be paid for each new apprentice they hire from 1st August to 31st January 2021. This is in addition to the existing £1,000 payment the Government already provides for new 16-18-year-old apprentices and those aged under 25 with an Education, Health and Care Plan.

How much can I claim?

£2,000 for anyone under the age of 25

£1,500 for anyone over the age of 25.

4. Vat Changes for Tourism and Hospitality related activities

From 15‌‌‌ ‌July until 12‌‌‌ ‌January 2021, the UK government will cut VAT from 20% to 5% on any eat-in or hot takeaway food and drinks from restaurants, cafes and pubs, excluding alcohol. This VAT reduction also applies to all holiday accommodation in hotels, B&Bs, campsites and caravan sites, as well as attractions like cinemas, theme parks and zoos

5. Stamp Duty

We know some of our clients are looking to move to a new house at the moment. The threshold for stamp duty was increased from £125,000 to £500,000 with effect from 8 July until 31 March 2021.

Does this apply to second homes?

Landlords and second home buyers are also eligible for the tax cut but will still have to pay the extra 3% of stamp duty they were charged under the previous rules.

For copies of our previous updates please e-mail either



This article is written for the general interest of our clients and is not a substitute for consulting the relevant legislation or taking professional advice. The authors and the firm cannot accept any responsibility for loss arising from any person acting or refraining from acting on the basis of the material included herein.

Andy Fleet

Author Andy Fleet

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