HMT announces workers’ support package
Released 20 March 2020
Chancellor of the Exchequer, Rishi Sunak, has announced a package of measures to support workers during the coronavirus (COVID-19) outbreak.
A new Coronavirus Job Retention Scheme will be set up to help pay people’s wages. Employers will be able to contact HMRC for a grant to cover most of the wages of their workforce who remain on payroll but are temporarily not working during the coronavirus outbreak. Any employer in the country will be eligible for the scheme.
Universal Credit and tax credits will be increased.
To ease cash flow pressures for UK VAT registered businesses, VAT bills from now until the end of June 2020, will be deferred until the end of the tax year.
Further details on the measures can be found at https://www.gov.uk/government/news/chancellor-announces-workers-support-package.