budget / 4 posts found
The Fundamentals of a Business Budget
A business budget is one of the essential tools in managing your business finances and actively building your business. A budget shows what you plan to do with your cash over the next year. For a complete picture of your business health, you need to review the profit and loss statement, the balance sheet, the cash flow forecast and the budget. Taken together, these reports allow you to make informed business decisions and monitor performance. Why have a Budget? Forecast sales and expenses according to monthly or quarterly variations. Evaluate performance over time, including changes or patterns. Get really familiar [...]
Autumn Statment Summary 2011
On 29th November 2011, the Chancellor of the Exchequer, George Osborne, announced the Autumn Statement which provides an update on the Government's plans for the economy, based on the latest forecasts from the Office for Budget Responsibility. Small businesses across the UK have seen the devastating impact that excessive red tape and lack of funding have had, however some elements in this Autumn Statement offer chinks of light amongst the Chancellor's doom and gloom. Businesses in need of finance Guarantees - The Government is to back £20 billion of business loans under the National Loan Guarantee Scheme. The scheme will lower the [...]
Emergency Budget Round-up
Chancellor George Osborne revealed a mixed bag of measures that will affect small businesses around the UK in the new coalition government's first Budget. He announced that the Lib-Con coalition will not be making any cuts to capital expenditure during this parliament. This could come as good news to a number of businesses in the construction sector and should serve to protect a number of jobs. One of the highlights of the speech with regard to small business organisations was the introduction of a new national insurance scheme. Under the initiative, certain businesses will be exempt from up [...]
Emergency Budget – what can we expect?
We now have a coalition government between the Conservative and Liberal Democrat parties, which is expected to adopt tax policies from both constituent parties. The coalition agreement statement contains a brief note on tax issues. So what changes can we expect to see? Income Tax There will be a 'substantial increase' in the personal allowance from April 2011, with the Lib Dem target of £10,000 being a 'longer term policy objective'. It is possible that the income threshold above which personal allowances are phased out (currently £100,000) will be reduced. The 50% tax rate looks likely to remain in place [...]