(28th November 2008) Business Link today published a simple and easy to follow summary of the implications for business, and their employees, of Tuesday’s pre-budget report on their website (www.businesslink.gov.uk/budget).
David Dinsdale, Programme Director of businesslink.gov.uk, explained, “Our ongoing research with businesses that use the service has highlighted how useful they find it to have all the information they need in one place, so we hope that this content helps make life simpler for business.”
The Business Link budget summary includes details on:
• The new dedicated Business Payment Support Service for businesses worried about being able to meet tax, National Insurance or other payments owed to HM Revenue & Customs (HMRC), or if they anticipate that payments coming due will cause problems. Businesses can now get in touch with HMRC to discuss payment options to help them deal with temporary cashflow difficulties (0845 302 1435).
• The launch of a temporary Small Business Finance Scheme, providing support of up to £1 billion of bank lending. There will also be a separate £1 billion guarantee facility to support lending to exporters, a £50 million fund to convert businesses’ debt into equity and a £25 million regional loan transition fund.
• The changes to Business Tax including the deferral of the increase of the small company tax rate and the extension of the trading loss carry back rules.
• The changes to personal tax and National Insurance.
• The extension of the Train to Gain programme to provide training and support to individuals in pre-redundancy situations.
• The changes to VAT, fuel and excise duties.
The full summary, which includes links to relevant websites, can be found at www.businesslink.gov.uk/budget.
About Business Link
• Business Link is the free information, advice and support service for all types of business and is funded by the Government.
• Business Link helps businesses succeed. It provides the authoritative information, advice and support needed to start, maintain and to grow a business.
• Business Link can be accessed online at businesslink.gov.uk or by calling the National Help Line on 0845 600 9 006.
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