Businesses have had no choice but to review their staffing levelsduring this difficult period. The Coronavirus Job Retention Scheme has had a considerable impact on these decisions, saving many from redundancy, but its withdrawal is imminent, and many companies must now consider whether they need to make redundancies.
5% VAT And Voucher Scheme Announced As Part Of New Measures To Encourage People Back Into Restaurants
Rishi Sunak, Chancellor of the Exchequer, said that these measures have been brought in to protect jobs in the hospitality and tourism industries, which have been severely impacted by the coronavirus pandemic. As lockdown was rolled out across the country, up to 80% of hospitality businesses were forced to cease trading, and 1.4 million workers in hospitality have been furloughed.
For start-ups right now, survival is the only thing they should be focusing on. Where marketing, growth and profit were all important for small businesses just six months ago, most companies are now realising that life in the post-coronavirus world means that their business plans and projections are effectively useless.
Are you a freelancer, are you classified as self-employed, are you currently a one-man band? This can be a challenging employment status to fill, commonly down to juggling every area of business. Being a freelancer can offer freedom, it can be rewarding, yet there are unglamorous jobs, part and parcel of self-employment, including your tax liabilities.