Back to the UK for this week’s Individual Business
Briefing, then, with the news that the Frankenstein’s
monster that is the Vince Cable/George Osborne pairing have
published a green paper on ‘industry led’ solutions
to the financing crisis being faced by small businesses in
the United Kingdom; measures
similar to those being put in place in France seemingly having
failed to make the leap across the Channel.
The green paper published by the Business Secretary and
Chancellor of the Exchequer, entitled ‘Financing
a Private Sector Recovery’, and under consultation
until September 20, outlines a number of proposed market-led
solutions to the lack of financing for SMEs, including “…more
use of equity and encouraging venture capital and ‘business
angels’ to invest in a wider range of businesses, and
a responsible return to securitisation”.
Way to keep ahead of the curve there, guys. How many
months have we been writing about this? (Hint: lots
.)
The paper also addresses the success of existing government
schemes, such as the Enterprise Finance Guarantee, and whether
they should be improved or extended, although it stresses
that industry-led solutions are likely to be the preferred
solutions for market failures in the future, with government-led
interventions acting as a last resort.
The Treasury is obviously in a ‘consulty’
(I know it’s not a word, spellcheck. Shut up, or I’ll
turn you off – then youlle be verry sory…) frame
of mind this month, as it also launched a number of consultations
on various (nine!) planned tax reforms,
including to the PAYE system, to the tax rules dealing with
furnished holiday lets, to pensions tax relief, to the rules
covering associated companies and their interaction with the
small profits rate of corporate income tax, and a number of
other issues.
So if you’re a small business-person of a letter-writing
persuasion, there’s a lot to keep you busy this month.
Let us know how you get on - I’ll be over here…um…not
holding my breath while I’m waiting.
Speaking of waiting, our campaign for more - or indeed
any - office space continues, albeit without a great deal
of success. We’re in negotiations for a corner of the
Lowtax tearoom (biscuits, wheee!) but morale is low in the
broom cupboard, and a tussle broke out yesterday between PBTG
staffers over the use of the best broom…
Petitions to ‘Free PBTG’ can be sent to the
Editor at editorial@lowtax.net
. Just don’t tell him I sent you. Please.
It was announced this week that the Provisional Minimum Wage Commission had reached agreement on the initial minimum wage level, and was preparing a report to submit to the Chief Executive making its recommendation. RSS
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Updates
Accounting and business advisory firm, Deloitte earlier this month launched the 2010/11 edition of its annual 'Entrepreneurship UK' poll, seeking to provide a snapshot of the attitudes and intentions of entrepreneurs across the country. RSS
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A survey recently undertaken by Swiss banking group, Credit Suisse, in conjunction with the Centre for European Economic Research (ZEW) has shown that there is increased optimism this month amongst the business community and the wider population with regard to the future of the Swiss economy. RSS
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As part of the lead-up to its implementation of the New Modern Apprenticeship (NMA) scheme, which aims to replace the traditional apprenticeship pathway (or A-Scheme), the Cypriot government has announced that new applications are now being invited from businesses seeking subsidies for the training of apprentices. RSS
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Updates
Just wondering if anyone had any tips on getting clients to pay up in a timely fashion?
Am a freelance writer, with a number of regular gigs with online and offline publications, but, with a couple of exceptions - which have just about kept my head above water some months - they're all pretty awful at paying up on time. The payments trickle through eventually, but often not without pushing from me.
It's really getting me down, and may well end up sinking me financially. So...what do you do?
I am not an Irish citizen but have been based in Ireland for many years. For the last 6 years I have worked overseas (outside EU) only spending max 6 weeks holiday a year in Ireland. For the time I have been overseas I continued to make an Irish tax return and there was no liability to foreign tax. It is possible that I will secure a 2 year contract overseas that will substantially increase my income. This new contract will require that I pay local income tax. What can I do to minimise Irish tax liability? It may be possible to have salary paid in a double tax agreement location if this would help.
I am looking to set-up as a sole trader in Ireland. One of my clients is an American company paying into my Irish account for work done. Do I have to pay taxes in both countries, or how does this work? Help!M
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