THE Chancellor's Statement (A quick update)

Published October 2020

Good afternoon. As you may know the Chancellor has made a statement today, and as expected the Furlough Scheme is ending as expected.

I will write more later but here are some key things so far: -

1. The new jobs scheme helps all employees of small and medium companies who work at least 1/3rd of their hours;
2. VAT already deferred and due in march can now be spread over 11 months;
3. Government loans can now be repaid over 10 years not 6; and,
4. Hospitality sector VAT to stay at 5% until March.