INSIGHTS
COMMUNITY ARTICLE
Budget 2020
Highlights of the Chancellor's March 2020 Budget are set out in this report by EY. Key points include measures to address the issues caused by the COVID-19 outbreak and those to deliver on long-term manifesto commitments.
Content includes:
- Corporation tax rates: corporation tax will remain at 19 percent from 1 April 2020.
- Coronavirus-related measures: time to pay - the Government’s package of measures to support individuals and businesses affected by the COVID19 outbreak included confirmation that all businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s ‘time to pay’ service.
- Business rates - the Government has announced a number of measures to assist businesses experiencing disruption to their cashflow as a result of the COVID-19 outbreak. The main focus of these is on SMEs in the retail, leisure and hospitality sectors.
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