The following Corporation Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
There are many different government sources of finance for SMEs in the UK. These may be suitable for companies seeking lower levels of finance than is generally provided by private equity. This guidance note summarises key features of the main Government supported grant, lending and equity investment schemes for small businesses. Many of these schemes were introduced for the first time, or improved / extended previous schemes, in the Emergency Budget in June 2010.
There are schemes on offer at both the national and regional levels and financial support is also offered by other bodies such as the EU and Regional Development Agencies. There are links to various other bodies offering financing to small businesses at the end of this guidance note.
The EFG provides financial assistance for businesses which would not otherwise qualify for a bank loan as they do not have the level of security required or a proven track record. It is available for businesses with a turnover of up to £41 million in all sectors except those which are excluded because of state aid rules (eg agriculture, coal and steel). Loans of between £1,000 and £1 million are available, and the Government will guarantee up to 75% of the loan. EFG is backed by the British Business Bank. In Autumn Statement 2013, it was announced that an additional £250 million of unspent funding from the Business Finance Partnership will be used by the Government to enable the British Business Bank to increase its range of financing solutions for small and medium sized enterprises.
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