We have received a useful summary of the Chancellor’s Winter Economy announcement yesterday from Action Coach, James Vincent.
The Chancellor’s Winter Economy announcement
Job Support Scheme: A 6 month scheme starting 1 November for all employers even if they haven’t used the furlough scheme. Employees have to work a minimum of 33 per cent of their hours, the remaining hours not worked, will be paid a third by the Government and a third by the employer. So employees working 33 per cent of their hours will receive at least 77 per cent of their pay.
VAT Deferral: Where a businesses has deferred their VAT, they will no longer have to pay a lump sum at the end of March next year. They will have the option of splitting it into smaller, interest free payments over the course of 11 months - benefitting up to half a million businesses. The Government has also extended the 15% VAT reduction for the tourism and hospitality sectors to the end of March 2021.
Bounce Back Loans: the deadline to apply for the loans has been extended to 30 November ensuring even more businesses can benefit from government-backed support. The term in which they need to be repaid can also be extended from 6 to 10 years.
Kick Start Scheme: funding to employers to create new 6-month job placements for young people, 100% of the relevant National Minimum Wage for 25 hours a week plus £1,500 per placement for set up costs. If you're organisation would like to benefit from the Governments Kickstart Scheme register your details here.
James Vincent is Performance Director at ActionCOACH UK
Contact Tracing App… get the QR code
The NHS Contact Tracing App is now live in England and Wales. Over 1m people have downloaded it already.
Garden centres can download a QR code to display at entrances and entrances of restaurants for app users to scan.
Garden centres can download and print the QR Code poster and register at https://www.gov.uk/create-coronavirus-qr-poster.
The HTA explains the latest situation. In England if a customer has signed in via the QR code and app they don’t need to fill in any additional test and trace info.
However, businesses still need to have the usual test and trace process in place for those who don’t have the app, as there must be a way to collect their information.
In Wales the app is only an accompaniment to what is already there. Premises can display the QR code but customers must still sign in via the manual test and trace.