Name:  october.JPG
Views: 0
Size:  25.4 KB

Today, Friday October 1st, sees many changes in the UK including: end of furlough job retention scheme, energy price cap raised by 12%, reduced rate VAT increased from 5% to 12.5% for pubs and restuarants, eviction notice period returns to pre covid levels, mandatory Covid passes for nightclubs in Scotland.

Removal of the £20 top up for Universal credit is scheduled for Ocetober 6th. There are new international travels rules to come into effect on October 4th.

End of the furlough scheme

Since the start of the pandemic the furlough scheme has helped pay the wages of 11.6 million workers. The scheme closed on September 30th with an estimated 1 million workers still supported.

Energy price cap raised 12%

Ofgem have given as 12% rise in the price cap. Those on standard tariffs, with typical household levels of energy use, will see bills go up by £139 to £1,277 a year. Prepayment meter customers with average energy use will see a £153 increase. This price cap increase represents the six monthly increase in wholesale energy prices up to July 31st and does not include the news of much further prices in August and September which has caused nine smaller supplier to have gone bust.

Reduced VAT support for hospitality sector

The temporary cut to the rate of VAT on food, accommodation and entry fees to attractions from 20% to 5% was introduced on 15 July 2020.

An increased reduced rate of 12.5% will apply between 1 October 2021 and 31 March 2022 before returning to the full 20% standard rate.

Landlord evicition notice period returns to pre Covid

Landlords giving notice of their intention to evict via either a Section 21 or Section 8 notice will need to give two months’ notice, down from six months prior to October 1st.

Covid passport needed for Scotland nightclubs and large events

The passport system is to reduce the risk of transmission and help prevent venues - many of which have only recently reopened - from having to close again due to Covid.