Further to his announcement that the Autumn Budget will be cancelled, Chancellor Rishi Sunak MP (Con) announced details of his Winter Economy Plan on Thursday 24th September.
It includes further measures to support businesses and the self-employed through the winter months and continuing pressure from the restrictions brought on by the COVID-19 crisis.
For example, the article explains that the benefit of the temporary reduction of VAT from 20 per cent to five per cent for rural hospitality businesses is ‘inconsequential’ for businesses whose season has already ended.
However, for rural businesses who had delayed the decision to take up loan support, the extension of the deadline for the Bounce Back and Business Interruption Loan Schemes will be welcomed.
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