Customer Service
- HMRC Customer Service has been improved with more staff and longer opening hours
- Customer service can be accessed via phone, web chat and Twitter
Small Business Partners
- Small businesses can find business partners through Growth Hubs in England
- All business partners have received small business support packs to support them
- This will help them in partnering up with small businesses to provide them with growth options
Tax Relief
- For advice on tax relief you should consult your tax advisor
- Tax relief known as Entrepreneurs’ relief gives you a 10% Capital Gains tax relief when you sell your business
- Small Business Research and Development Relief is available as tax relief or credit for research and development costs
- Employment Allowance also applies to small business when they employ another member of staff other than themselves
- This tax relief helps small businesses to hire employees especially those under 21 (they are exempt from NICs)
Small Business Investment Schemes
- Online system for small business owners to access some Investment Schemes
- Investment Schemes for small businesses include the Enterprise Investment Scheme, Venture Capital Trust Scheme and Seed Enterprise Investment Scheme
- The Annual Investment Allowance funds small businesses that need capital to invest in new plant and machinery
Shoaib Aslam is the co-founder of Pearl Chartered Accountants, a UK-based chartered accountancy firm that has multiple locations across London. They are experts in helping startups and established businesses with all aspects of growth, strategy, scaling up, accounting and tax planning.
