Unsupported browser

For a better experience please update your browser to its latest version.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Chancellor announces coronavirus business aid package: no VAT for three months

Rishi sunak
  • 1 Comment

Chancellor Rishi Sunak has announced a three-month VAT holiday for all businesses in a bid to help companies survive the coronavirus crisis

The tax break, which is set to benefit almost every UK business, represents a £30 billion cash injection into the economy and forms part of a wider set of ’unprecedented’ measures to protect jobs.

Sunak also announced a new ’coronavirus job retention scheme’, which would see the government pay 80 per cent of wages for employees not working up to £2,500 a month.

It is understood companies would be able to apply for a grant from HMRC to cover the wages of staff who were not working due to coronavirus shutdowns but who had not been made redundant.

The chancellor said: ’Let me speak directly to businesses: I know it’s incredibly difficult out there – we in government are doing everything we can to support you.

’The government is doing its best to stand behind you and I’m asking you to do your best to stand behind our workers.’

The AJ has already heard of some practices laying off staff as a result of the virus lockdown.

RIBA chief executive Alan Vallance said: ’We are encouraged by the financial measures announced this evening and hope they will provide much-needed support for practices to retain staff and manage cash flow.

’The RIBA is engaging with the government on a daily basis and this latest package of support reflects proposals we put to the Chancellor earlier this week. We will continue to ensure the concerns of our members are heard, understood and acted upon.’

  • 1 Comment

Readers' comments (1)

  • Perhaps the RIBA should look at their own setup too during this time. A 6 month freeze on the membership costs would be one step perhaps they should consider... small steps and all that...

    Unsuitable or offensive? Report this comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.

Related Jobs

Discover architecture career opportunities. Search and apply online for your dream job.
Find out more