What the 2013 Budget Means for Businesses

WHAT THE 2013 BUDGET MEANS FOR BUSINESSES GENERAL STATS 20% REDUCTION IN GOVERNMENT SPENDING CUT TO CORPORATE TAX BILLION POUNDS INVESTMENT INTO INFRASTRUCTURE IN 2014-15 10% 20% U CHANGES IN BUSINESS RATES INCREASE IN R+D CREDIT CUT TO CORPORATE TAX £10,000 1500 THE SIZE OF THE LOANS EMPLOYERS CAN OFFER TAX FREE TO PAY FOR ITEMS REGULATIONS THAT HAVE ALREADY BEEN AMENDED OR SCRAPPED FORECASTS 4.5% INFLATION IS FORECASTED TO FALL TO 2.5% THIS YEAR. 2.8% 2.5% 2.2% 2% 2011 2012 2013 2014 2015+ GDP IS ALSO FORCASTED TO FALL TO 6.8%. 7.4% 6.8% 5.9% 5% 3.4% 2012-13 2013-14 2014-15 2015-16 2016-17 2.7% COMPARITIVELY, ECONOMIC GROWTH IS FORECASTED TO RISE TO 1.8% NEXT YEAR. 2.3% 1.8% 1.2% 0.6% 2012 2013 2014 2015 2016+ EMPLOYMENT FROM APRIL 2013, EACH BUSINESS IS PERMITTED TO EMPLOY ONE WORKER ON A MAXIMUM SALARY OF 4 22.400 ALTERNATIVELY, BUSINESSES CAN EMPLOY FOUR WORKERS WORKING FULL-TIME ON THE ADULT NATIONAL MINIMUM WAGE WITHOUT PAYING NICS FROM APRIL 2014, THE GOVERNMENT WILL PROVIDE £2000 450,000 OFF THEIR NATIONAL INSURANCE CONTRIBUTIONS TO HELP THEM HIRE NEW STAFF SMALL BUSINESSES WILL PAY NO JOBS TAX AT ALL. START-UPS + SMALL BUSINESSES 30 BILLION POUNDS WAS INVESTED INTO THE START-UP LOAN SCHEME IN JANUARY 2013 30 THE AGE LIMIT FOR THE START-UP LOAN SCHEME HAS BEEN RAISED TO 30 MILLION POUNDS WILL BE AVAILABLE IN GROWTH VOUCHERS FOR SMES OVER TWO YEARS AS PART OF THE SMALL BUSINESS RESEARCH INITIATIVE (SBRI) SOURCES HTTP://WWW.STARTUPS.CO.UK/BUDGET-2013-HOW-WILL-IT-AF- FECT-START-UPS-AND-SMALL-BUSINESSES.HTML HTTP://WwW.GUARDIAN.CO.UK/UK/BUDGET-2013 HTTP://WwW.TELEGRAPH.CO.UK/FINANCE/BUDGET/ HTTP://WwW.GOVOPPS.CO.UK/BUDGET-2013-HOW-IT-WILL-AFFECT-BUSINESSES-AND-SMES/ HTTP://WwW.FREELANCEUK.COM/NEWS/4 270.SHTML EXECUTIVE OFFICES GROUP