Business rates to be scrapped for certain businesses…
Business rates will be abolished altogether for smaller firms in retail, leisure and hospitality – a tax cut worth up to £1bn. The scrappage will only apply to premises with a rateable value of up to £51,000 to help cushion the blow from decreased demand until end-2020.
…other small businesses to receive cash grant
Small businesses that pay no business rates will receive a £3,000 cash grant, worth a total of £3bn.