Whereas owners of businesses need to be cautious in the way they run them, it is often the case that a more adventurous approach is needed.
At Parker & Co we will not merely err on the side of caution as do most accountants. We will also often provide more adventurous alternatives to dealing with the problems that can arise in the volatile and ever changing world of business.
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A further reduction in the main rate of corporation tax has been announced. The planned 1% decrease announced to take effect from 1 April 2012 is now to be a 2% decrease with the rate moving from 26% to 24%. Further 1% reductions to 23% and 22% are to take place from 1 April 2013 and 1 April 2014 respectively. The small company rate will remain at 20%.
The Government has set out plans to boost lending to small businesses.
Mark Prisk, the Business and Enterprise Minister, has unveiled a reform to the Enterprise Finance Guarantee scheme (EFG), the aim of which is to improve access to funding for community finance development institutions (CDFIs).
Mr Prisk said that the Government will increase access to the scheme (which guarantees 75 per cent of a loan to small businesses) for CDFIs, which typically make more risky investments than other lenders.
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