Last week the Chancellor of the Exchequer made several announcements introducing measures to provide improved relief from business rates for small businesses and those in the retail, leisure, hospitality and nursery sectors. He also introduced grants to assist some of those businesses in the wake of the COVID-19 pandemic.
Whilst providing welcome support for many businesses in these difficult times, these provisions still provide no help for larger businesses outside the specified sectors. It will be important for businesses to understand how the new provisions apply, and their limitations. Aitchison Raffety has created a summary to help businesses understand the changes, in this fast-moving environment.