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Mini Newsletter 25/06/2021

 Hi all,

Just a quick newsletter for you today as I wanted to share the information with you now rather than waiting for the next full newsletter.


CJRS – Job Retention Scheme

  • Just a quick reminder that from 1st July, the Government will pay 70% of the wages up to a maximum £2187.50 for the hours the employee is on furlough.
  • Employers must top up employees’ wages to ensure they receive 80% of wages, up to £2,500 in total, for the hours the employee is on furlough.
  • For the months of August and September, the Government will pay 60% up to a maximum of £1,875, with the employer needing to finding the remaining 20% up to £2,500.


Stamp Duty Land Tax and Land Transaction Tax

  • Just a quick reminder that in respect of residential property purchases in England and Northern Ireland (Stamp Duty Land Tax) and Wales (Land Transaction Tax) changes come into play from 1st July 2021.
  • From 1st July 2021, as regards SDLT, only the first £250,000 of a property purchase will attract the zero percentage rate, as opposed to at present, the first £500,000.
  • If you are buying your first home and the cost is no more than £500,000, from 1st July 2021 you will pay no SDLT up to £300,000 and 5% on the portion between £300,001 to £500,000.
  • From 1st July 2021, as regards LTT, the pre-Covid rates apply. Only the first £180,000 of a property purchase will attract the zero percentage rate, as opposed to at present, the first £250,000. The present Covid concession only related to the acquisition of your main residence and not a second home.
  • Scotland’s Land Buildings Transaction Tax rates for residential purchases are as they were as at 1st April 2021 (zero rate on the first £145,000).

Like always, if you have any questions, please do not hesitate to get in touch.

info@togetherwecount.co.uk

www.togetherwecount.co.uk

https://g.page/Together-We-Count-Limited?gm

01273 569088
0114 400 0119
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