Update for businesses

In the budget, the Chancellor announced measures including:

  • SMEs can ask for time to pay tax bills.

  • retail, leisure and hospitality businesses with a rateable value (RV) of less than £51,000 will pay no business rates in 2020/21 if they apply.

  • pubs with a RV of less than £100,000 receive a £5,000 reduction on business rates if they apply.

  • new small business grants are available.

  • a new Coronavirus Business Interruption Scheme may guarantee some business loans up to 80%

  • sick pay can be claimed from Day 1.