Monthly Archives: February 2021

Hot Business News Today

Rishi Sunak eyes hiking corporation tax even higher to 25%

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Originally written by Timothy Adler on Small Business
Rishi Sunak is eyeing increasing corporation tax from 19% to 25% in the Budget next Wednesday, March 3.
Previously, it was thought the Chancellor was only considering going as high as 24 per cent.
The chancellor needs to raise money to help start paying off the staggering £394bn deficit the UK economy is facing because of Covid-19, not least the £71bn the Government has spent supporting businesses.
>See also: Self-employed to be offered fourth and final £7,500 grant in Budget
Each percentage point hiked on corporation tax rates raises another £3.3bn in revenue. This implies that the chancellor could raise nearly £20bn if he increases corporation tax to 25%.
Mr Sunak is also getting political cover to do this because his US counterpart, Janet Yellen, said recently that US corporation tax might rise from 21 per cent to 28 per cent. This would mean that the UK could still claim to have the lowest level of corporation tax in the G7 group of developed nations. According to the Times, the first increase is likely to be in the autumn budget, with subsequent rises.
Also, corporation tax revenue overwhelmingly comes from a number of enterprise-level companies and corporates, as opposed

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Hot Business News Today

A guide to getting a small business loan

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Originally written by fundingoptions on Small Business
Most companies, large or small, are likely to require funding at some point in their lifecycle. At times, you may need a quick cash injection to ease temporary cash flow issues, at others, a longer-term finance solution to set your ambitious growth plans into action.
You can use a small business loan to fund:

Hiring more staff
Purchasing equipment
Investing in stock
Paying for crucial expenses
Easing cash flow issues

With so many lenders on the market today from high-street banks to alternative lenders, offering innovative business loan solutions, there’s a business loan option out there for almost every SME.
You might even be eligible for a small business loan if you’ve been trading for less than two years, have a relatively low turnover or a less-than-perfect credit history.
Whatever your circumstances are, this simple guide to getting a small business loan is designed to cover the basics of what you need to know. Let’s start with a definition.
What is a small business loan?
A small business loan provides startups and SMEs with the finance they need to succeed. With a term loan, the business owner borrows money from the lender and agrees to pay it back, alongside any interest, over a set period

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