Job retention and VAT plans will benefit diversified farms

Diversified farm businesses will gain from some of the jobs related recovery measures announced by chancellor Rishi Sunak today (6 July).

There is to be a VAT rate cut from 20% to 5% on food, accommodation and attractions.

In a bid to limit redundancies when the furlough scheme ends in October, the government will pay £1,000 for each job retained through to January.

See also: Farm staff management advice on fwi 

There is also to be a £2,000 incentive designed to encourage businesses to hire apprentices, with £1,500 for apprentices over 25.

The government will also pay employers £1,000 to take on trainees, with a Kickstart scheme to subsidise six-month work placements for people on Universal Credit. This is for those aged between 16 and 24 and who are at risk of long-term unemployment.

These jobs must be for a minimum of 25 hours a week and must pay at least the national minimum wage.

For each kickstarter job, the government will cover the cost of 25 hours’ work a week at the national minimum wage – £4.55 for under-18s, £6.45 for 18- to 20-year-olds, and £8.20 for 21- to 24-year-olds.

There will also be a time-limited stamp duty holiday in England and Northern Ireland on the first £500,000 of property sales, running until 31 March next year.

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