Here’s a quick summary of the sort of practical help notified this afternoon by the Chancellor. Together with a reminder of some useful tax rules which may also help with your cashflow.

Business Rates:

• No rates payable for 12 months for any business in the retail, hospitality or leisure sectors.
• In those sectors, if your rateable value is less than £51k, you'll also receive a cash grant of up to £25,000.
• Any business which gets small business rates relief, will receive a cash grant of £10,000 (increased from £3,000 announced in the Budget).

Government Backed Loans:

There is much to be happy about in today's Budget, where the magic money trees are well and truly thriving!

Businesses will benefit from many announcements, particularly those who trade from a property, have one or two employees, and need a new car!

Business rates are abolished for a year for rateable values of less than £51k and these same businesses will receive a £3k grant, as a response to the Coronavirus but it's also part of the overall picture of dealing with competition from Amazon and other online retailers.