At the time of writing (20th Mar), the Chancellor has set out a package of measures to support businesses including:
- a 12-month business rates holiday for all retail, hospitality and leisure businesses and grant funding of £25,000 where these businesses have a rateable value of between £15,000 and £51,000.
- small business grants of £10,000 for businesses in receipt of small business rate relief or rural rate relief.
- A Business Interruption Loan Scheme offering loans of up to £5 million for SMEs
- HMRC tax “Time to Pay” Scheme agreed on a case by case basis - 0800 0159 559.
- Statutory Sick Pay relief package for SMEs
We are still clarifying how this might help farm businesses and further information will be provided via ENews or call 01768 868615.