News and Events

Cable launches investment campaign to help small firms grow

Business Secretary Vince Cable has launched a funding campaign in a bid to help the UK’s some 4.9 million small firms to develop. Earlier this month, Mr Cable unveiled the first ‘funding allocation’ from the British Business Bank’s investment programme, which is designed to supply debt finance to small businesses. The first £45 million of subsidy is to be divided between two private investment firms: Read more…

A call to businesses: respond to EFRBS opportunity

Employers who operate Employee Financed Retirement Benefit Schemes (EFRBS) will be receiving letters from HM Revenue and Customs (HMRC) providing an opportunity to settle any outstanding liabilities. Based on Employee Benefits Trusts, in which trusts (usually offshore) are used to pay staff through tax-free loans, EFRBS are instead put towards employees’ pensions. Employers have until 31 December 2013 to indicate whether they wish to take Read more…

Why is it harder for women to save for a pension than men?

‘Research suggests that only 50 per cent of women in their 30s work full-time, compared with 81 per cent of men of the same age.’ The juggling act of life is tough, and planning for your pension often gets side-tracked when financial pressure is applied from all angles. However, according to this year’s ‘Scottish Widows “Women and Pensions” Report’, it’s largely women who bear the Read more…

10,000 and counting: New entrepreneurs receive the ‘get up and go’ from Start Up Loans

Since its launch earlier this year, the new-business aid scheme, Start Up Loans has recently celebrated the transaction of its 10,000th loan, which was awarded to Cornish entrepreneur, Allen Martin to help him initiate his new business providing online help for landlords. Start Up Loans, chaired by business mogul James Caan, has had a promising year since its conception in 2012, as they are now Read more…

Autumn Budget Statement 2013

Introduction “The hard work is paying off” was the message of this year’s Autumn Statement and while Chancellor George Osborne admitted that there was still work to do, the overall picture was more positive than last year’s statement. Giving his annual statement in response to the Office for Budgetary Responsibility’s (OBR) latest annual growth and borrowing figures, Mr Osborne told Parliament that “Britain’s economic plan Read more…

1.6m say ‘I’m in’ to auto-enrolment

More than 1.6 million people have started saving for retirement under the government’s auto-enrolment initiative. The rollout of automatic enrolment of eligible employees into qualifying workplace pension schemes began on 1 October 2012 with the largest employers. All employers will be brought on board by 2018, giving up to 11 million people the chance to save for retirement, many for the first time. To mark Read more…

Countdown begins to national insurance cut

Legislation is on its way that will cut the costs of every business and charity employer by hundreds of pounds next year. The National Insurance Contributions Bill, which was introduced in the House of Commons on 14 October, will cut national insurance contributions by £2,000 for up to 1.25 million employers from April 2014 through the new Employment Allowance. The measure was originally announced in Read more…

Special day showcases small businesses

The UK’s small businesses will step into the spotlight for a special day celebrating what they have to offer next month. The country’s Small Business Saturday, which will take place on 7 December, is inspired by a similar US initiative that generated $5.5 billion in sales in 2012. The event is supported by the government and other major political parties, along with small business organisations, Read more…

Tax gap continues to narrow

HM Revenue & Customs (HMRC)  has put the estimated tax gap – the difference between tax due and what is actually collected – at £35 billion for 2011-12. The figure, announced on 11 October, represents seven per cent of tax due and continues a consistent downward trend in the size of the gap over the last six years. In 2005-06 it stood at 8.3 per Read more…