Budget 2020 Explained

In this video I go through the 2020 Budget and what it means for small businesses. There are some really interesting things we weren’t expecting so watch out for those. Also, there were a number of things in there to help businesses through any disruption caused by the novel Coronavirus so if you’re concerned about this then hopefully my video can help. Highlights not to be missed:

· Interest rates went down from 0.75% to 0.25%
· It was silent on IR35 – no relief from the changes, sorry.
· Higher rate tax relief on pensions maintained and slightly enhanced.
· £3,000 grant to small business with premises and who currently have 100% rates relief.
· Sick pay to be paid by the government over the coming months – self certified but will include business owners.
· R & D tax credits are enhanced.

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