NI Business Support Guide to the Budget 2020

Posted on Posted in News
  • Entrepreneurs Relief was not abolished as feared but still significantly amended. Lifetime allowance reduced from £10m to £1m
  • Those told to self-isolate because of coronavirus, even if not presenting any symptoms, will be entitled to statutory sick pay (“SSP”) from day 1 (as opposed to day 4 normally)
  • Self-employed workers, who are not entitled to SSP, will be able to claim contributory Employment Support Allowance from day 1 (as opposed to day 8 normally)
  • Small employers with less than 250 employees will be fully refunded by the government for SSP for up to two weeks per employee
  • Businesses adversely impacted by the coronavirus will be able to access “business interruption” loans of up to £1.2m from banks
  • NIC threshold for employees and self-employed to rise to £9,500 from £8,632
  • Business rates discounts for pubs to rise from £1,000 to £5,000
  • Duties on fuel and alcohol to be frozen
  • Plastic packaging tax to come into force from April 2022
  • Red diesel subsidies to be scrapped in most sectors – agriculture will specifically be excluded from changes