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.
- 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: