The PBR announced new facilities for over £2 billion additional support for SMEs in accessing credit, more generous loss relief, a new HMRC support service, and deferral of the increase in the small companies rate of corporation tax.
This is worth £1 billion of tax cuts, £2 billion in loan guarantees, along with £4 billion of European money—£7 billion in total.
Since PBR HMRC's new support service has helped 6,250 businesses spread around £110 million worth of tax payments.
The PBR announced new facilities for over £2 billion additional support for SMEs in accessing credit, more generous loss relief, a new HMRC support service, and deferral of the increase in the small companies rate of corporation tax.
This is worth £1 billion of tax cuts, £2 billion in loan guarantees, along with £4 billion of European money—£7 billion in total.
Since PBR HMRC's new support service has helped 6,250 businesses spread around £110 million worth of tax payments.
In addition to the establishment of the Lending Panel, the Government also announced at PBR 2008 a package to assist small and medium enterprises facing credit constraints.
This package included the establishment of the Small Business Finance Scheme, a Export Credits Guarantee Department scheme, and a number of other actions. When combined this package will facilitate over £2 billion of extra support to SME's experiencing short-term financial difficulties.
The PBR announced new facilities for over £2 billion additional support for SMEs in accessing credit, more generous loss relief, a new HMRC support service, and deferral of the increase in the small companies rate of corporation tax.
This is worth £1 billion of tax cuts, £2 billion in loan guarantees, along with £4 billion of European money—£7 billion in total.
Since PBR HMRC's new support service has helped 6,250 businesses spread around £110 million worth of tax payments.