The Autumn Statement has been delayed by one day and will now take place on Thursday 5 December, the Treasury has confirmed.
The change of date ensures that the Chancellor George Osborne’s Autumn Statement speech to the House of Commons will not take place while Prime Minister David Cameron is out of the country.
UK Small and Medium Sized Enterprises (SME’s) could be losing up to £3.7 billion as a result of poor internal systems and financial accounting, according to a survey by Exact.
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The Chancellor of the Exchequer, George Osborne has announced that he will give his annual Autumn Statement to Parliament on 4 December 2013.
The statement provides an update on the government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility. These forecasts will be published alongside the Autumn Statement on 4 December.
Full details of the announcements will be available following the Chancellor’s statement to Parliament.
£2 Million Childcare Business Grants Scheme – Applications Invited (England)
Launched earlier this year, the Childcare Business Grants Scheme aims to boost the provision of childcare in England and to incentivise entrepreneurship.
The scheme has been funded for one year with a fixed budget of £2 million. There are three types of grant available, depending on the type of childcare business that is to be set up:
- £250 for new childminding businesses (a childminder is someone who looks after children in their own home, either alone or with help from one or two other adults).
- £500 for new childminding businesses (as above) that intend to provide care for disabled children.
- £500 for larger childcare businesses, including nurseries and out-of-school clubs (which are usually run in a specialist building), and childcare businesses on domestic premises (in someone’s home, but with four or more adults working there).
For further information:
Childcare Business Grants Scheme
PO Box 894
Tel: 0844 2642546
The national minimum wage increased as of 1st October 2013.
HMRC enforces the national minimum wage and will serve penalties if the amounts below are not met.
- For workers aged 21 years or more: £6.31 per hour
- For workers aged 18-20 inclusive: £5.03 per hour
- For workers aged under 18 (but above compulsory school age): £3.72 per hour
- For apprentices aged under 19: £2.68 per hour
Lending through the Government’s Enterprise Finance Guarantee (EFG) scheme to small businesses picked up to £84 million the second quarter of 2013, following a period of decline.
It is the highest level of lending since March 2011.
Open to individuals who are yet to complete a self assessment tax return for all years up to the 2011-12 tax year and who have already received a notice from HMRC. Those wanting to take part will have to notify HMRC, complete and submit returns by 15 October 2013, and pay any tax payment that may be due.
Under the campaigns, individuals will be able to take advantage of paying the tax they owe and benefit from lower penalties than if HMRC were to find them at a later point.
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From 1 April 2013, sole trader and partnership businesses will be able to account for their income and expenditure on a cash basis. This means income is recorded when it is received and not when it was earned along with expenses recorded when they are paid for. This will hopefully make things a little easier for small businesses. Need help with your bookkeeping or Tax Return contact firstname.lastname@example.org