Legalease Home page
Whats new

 

11/03/2020

Key budget 2020 points for supporting business

Subject: Finance and funding

Source: GOV.UK

The key business support measures announced in the Budget are:

  • 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

 

 

Back to What's new list >