Government Announcements

Spotlight - Government Announcements

Budget 2012: 50p tax rate cut while income tax threshold is raised

Chancellor George Osborne announced that the 50p top rate of tax will be reduced to 45p in April, and a further £1,100 increase in the personal allowance by 2013, in the Budget made earlier this afternoon.

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Loan scheme for small businesses launched

A new Government backed loan scheme worth £20 billion aimed at boosting lending to small and medium-sized enterprises (SMEs) has been launched by the Chancellor.

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Government pledges to double contracts with SMEs

The Government plans to double its spending on public sector contracts awarded to small and medium sized enterprises (SMEs), from £3 billion to £6 billion, it has announced.

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SMEs urged to embrace overseas trading

Small businesses in the UK should take advantage of trade opportunities in the EU and on a global level to boost company growth and the UK economy, says business and enterprise minister Mark Prisk.

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£4 million of red tape cuts for businesses

Businesses in the UK will save around £4.17 million if the Government sticks to plans to cut regulatory burdens between January and June 2012, a new report published by the Department for Business, Innovation and Skills (BIS) says.

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Additional £1 billion for business growth fund

The Government will pump an extra £1 billion into its Regional Growth Fund which aims to support businesses by boosting employment and economic growth, it has announced.

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New HMRC taskforces to target market and auto traders

HMRC is to launch 30 new taskforces in 2012/13 which will specifically target market stall holders, car sales people, and rag traders as it continues its clampdown on those who attempt to dodge the tax man.

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New lenders join SME finance scheme

Four new accredited lenders will join the Government's Enterprise Finance Guarantee (EFG) scheme to offer loans to small and medium sized enterprises (SMEs.

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P45 tax form to remain

Plans to replace to the current P45 tax form with a new 'leaver statement' have been scrapped following a consultation about HMRC's introduction of its Real Time Information (RTI) programme.

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HMRC business record checks halted

HMRC has announced it will delay the implementation of its business records checks (BRC) programme, following a review with trade and professional bodies' representatives.

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