United Kingdom Homecare Association
The professional association for homecare providers

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Highlights - Chancellor's statement on jobs and businessHighlights - Chancellor's statement on jobs and business

UKHCA wants to keep providers up to date with Chancellor's statement made in the House of Commons today (Thursday 24 September 2020). More detail will be provided as soon as it is available.

For Businesses:

  • "Pay as you grow" scheme for businesses which took bounce back loans. Loans extended from six to ten years. Businesses can move to interest only payments or suspend payments if they are "in real trouble" for up to six months.
  • Businesses who deferred their VAT will have the option of splitting it into smaller, interest free payments over the course of 11 months.
  • Coronavirus Business Interruption Loans will be extended for up to 10 years.
  • A new loan scheme will be introduced in January 2021.

Support for jobs

  • The furlough scheme will end.
  • A new Jobs Support Scheme is being introduced for employees who are working at least a third of their normal hours and being paid for that as normal. The government and employers will jointly increase their wages to cover two-thirds of their lost pay and the employee will keep their job.
  • All small and medium-sized businesses are eligible, but larger businesses must show their turnover has fallen during the crisis. Employers can use it even if they have not previously used the furlough scheme it replaces.
  • The Job Support Scheme will run for six months from November.
  • The existing grant for self-employed people is being extended on similar terms to the Jobs Support Scheme.

More information: Winter Economy Plan

The announcement has also been welcomed by the Secretary of State for Scotland.

Announcement posted on:

UKHCA News ID: 236068

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