Today the Chancellor, Rishi Sunak, announced the Eat Out to Help Out scheme, as part of the Plan for Jobs 2020 update.
The scheme will support over 129,000 businesses in the hospitality industry. Diners can get 50% off meals and non-alcoholic drinks, up to £10 per person, at participating restaurants, bars and cafes when they eat in. The scheme is valid all day every Monday, Tuesday and Wednesday during August. Participating restaurants and establishments will be reimbursed for the discount they pass onto customers.
Further information about the scheme is available in the press release on GOV.UK.
Detailed guidance on the Eat Out to Help Out scheme, and registration details for restaurants and establishments will be published tomorrow. Restaurants and outlets can register for the scheme from Monday 13 July.
Other new measures announced
The Chancellor announced several measures including:
- A Job Retention Bonus Scheme – a one-off £1,000 payment to employers for each furloughed employee that remains continuously employed until 31 January 2021;
- A VAT reduction from 20% to 5% on the following business activities: any eat-in or hot takeaway food and drinks from restaurants, cafes and pubs, excluding alcohol; all holiday accommodation in hotels, B&Bs, campsites and caravan sites and attractions like cinemas, theme parks and zoos. The reduction is valid from 15 July until 12 January 2021.
- An increase in the Stamp Duty Land Tax (SDLT) threshold in England and Northern Ireland – increasing the threshold under which no SDLT is paid on the purchase of a main home from £125,000 to £500,000, with immediate effect until 31 March 2021.
You can read more about the Plan for Jobs 2020 update on GOV.UK.
Detailed guidance on these announcements will be issued shortly. We will let you know when it’s available.