Budget Breakdown - Supporting Businesses

March 11, 2020

 

 

  • Launching a fundamental review of business rates that will report in the autumn

  • A new pubs discount will be introduced to take £5,000 off the business rates bills of eligible pubs with a rateable value below £100,000.

  • The Employment Allowance for Employer National Insurance Contributions is increasing from £3,000 to £4,000. Over half a million businesses will benefit from this reduction to their costs of employment, with an average gain of £850 per year.

  • The Structures and Buildings Allowance for Corporation Tax will be increased from 2% to 3%, giving relief on an extra £100,000 next year if you’re buying a building worth £10 million.

  • £28m package and up to 10,000 Start-Up Loans to support entrepreneurs and businesses to start

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