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Small companies hail Rishi Sunak's 'critical' Budget freeze on VAT and business rates

Rishi Sunak unveiled a raft of measures aimed at helping small businesses today. The Chancellor targeted high street firms with a business rate holiday extension until June, followed by a two-thirds reduced rate for the rest of the financial year. He also confirmed a freeze of VAT at 5 per cent for hospitality firms until June, and to stagger a return to the 20 per cent regular rate with an interim 12.5 per cent step until April 2022. Business leaders had called for another year at the 5 per ce...
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