Initial indications from the Chancellor coming out of the Treasury Select Committee this afternoon is that cash grants will be paid to small businesses that fall within the limits for Small Business rates relief. It looks as though these will automatically qualify for a £10,000 cash grant.
Furthermore, he appeared to indicate that businesses that qualify for the retail discount with a rateable value up to £51,000 will qualify for a cash grant of £25,000.
There will also be no business rates to pay in the next fiscal year for businesses with rateable value up to £51,000.
We will update on this situation as more details are released….
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