ClearSky talks Budget 2014 and offers free report to small businesses

ClearSky Business, one of the UK’s leading providers of accounting, HR and payroll for SMEs, is offering a free Budget 2014 report to small businesses,  summarising the key changes announced in the Chancellor’s speech.
The company has also published a handy summary of the big announcements from the Budget 2014, which are most likely to affect small business owners in the year ahead.

In his fifth Budget speech to the House of Commons, the Chancellor unveiled a number of plans to create jobs and encourage investment and growth. The ClearSky article “Budget 2014: how will it affect your business?” explained that this was a Budget for ‘makers and doers’, and there was particularly good news for any business planning to export goods overseas.

Plans were unveiled to radically overhaul the UK Export Finance’s (UKEF) direct lending programme and double the funding to £3 billion. The Chancellor also announced plans to slash interest rates, which would help UK businesses to secure international contracts and expand overseas. Meanwhile, manufacturers are being encouraged to stay in the UK with a £7 billion package to slash energy bills on our shores.

The Annual Investment Allowance (AIA), a tax free incentive to new businesses, was doubled to £500,000 until the end of 2015. The Seed Enterprise Investment Scheme (SEIS) was also made a permanent feature to provide significant tax incentives to investors backing high risk businesses. The decision to increase R&D tax credit is also expected to provide an extra £1.3 billion in investments over the next five years to benefit budding small businesses.

Fuel duty has been frozen for another year in more good news for start-ups and small businesses worried about rising fuel costs. There was also good news for the younger generation, as plans were revealed to create 100,000 more apprenticeships all over the UK. Small businesses with less than 50 members of staff could earn a £1,500 grant for each apprentice they take on, on up to a maximum of 10, under the Apprenticeship Grants for Employers (AGE) scheme.

These are just some of the big changes announced in the Budget 2014 and small business owners can read about them all in the free ClearSky report. It includes a number of handy tips to bear in mind; and also a calendar of the tax year with all of the most important dates highlighted.

Read more about the Budget and download a free copy of our in-depth report, right here.

http://www.clearskybusiness.co.uk/

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