How will the budget affect your business?
Get the lowdown on how the budget, announced yesterday 22 June, will affect you as a small business. The Business Link website has a no nonsense summary which is well worth a read. Key things to look out for are:
The Enterprise Finance Guarantee scheme is set to be expanded, which is good news for those of you looking for finance to grow.
There will be changes to the Income Tax personal allowance and NI contributions.
The standard rate of VAT will increase to 20 per cent on 4 January 2011, so it’s worth planning now for how this is likely to affect you.
HMRC will continue to offer Time to Pay to all viable businesses experiencing difficulty in paying their tax on-time, so look this up if it applies to you.
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