BUDGET 2014: Social investors, Enterprise Zones and exporters win; and Annual Investment Allowance raised
Some other significant changes to the growing company market brought about by the 2014 Budget are outlined below:
- The Annual Investment Allowance against corporation tax has been doubled to £500k, giving businesses the chance to claim against a large amount of inward investment. The relief will also now run to the end of 2015. If your business needs help with tax related funding, get in touch with us here.
- The Direct Lending Scheme for export finance, initially introduced as a temporary measure, is to be made permanent and the budget for it doubled to £3bn. Businesses that require cash to process export orders can access loans from the Government. You can talk to us about business loans for your company, enquire here.
- The benefits available businesses relocating to Enterprise Zones (including business rates discounts and greater capital allowances) will be available for a further 3 years.
- Social investments will now be eligible for the same 30% tax relief as that available under the EIS scheme, and will cover both loans and equity investments. Relief will also be available for social impact bonds. If you want to find out more about equity investment, click here.