Real help for businesses now
Where to find help for your business when you need it
The Government is taking action to help businesses through the global recession and to ensure
they emerge stronger on the other side. This sheet gives you a quick summary of what help is
available and where to find it.
To get real help for your business go to www.businesslink.gov.uk/realhelp or speak
to a Business Link adviser on 0845 600 9 006.
Help with business finances
Visit www.businesslink.gov.uk/realhelp or speak to a Business Link adviser on
0845 600 9 006 to find the right finance for your business, including details of the Enterprise Finance Guarantee and regional loans.
Finance from your bank: you may be able to benefit from the Government’s Enterprise Finance Guarantee if you apply for a loan from your bank. This supports loans of up to £1m for firms with turnover up to £25m; you can also convert an existing overdraft into a loan to free up capital.
The Capital for Enterprise Fund provides equity investment which you can use to pay off existing debt or invest in your business. Call the Capital for Enterprise Fund Registration Helpline, 0845 459 9780.
Free guides on managing your finances are available at www.businesslink.gov.uk/realhelp; click on ‘Help with managing your cashflow’.
Need more time to pay your tax bill? Call the Business Payment Support Service on 0845 302 1435.
Debt problems? Get free, confidential and independent help to deal with business debt problems. Call Business Debtline on 0800 197 6026.
Managing Cash Flow Guides - Guides designed to help you get paid with tips from the UK centre of excellence.
Prompt Payment Code - The British Chambers of Commerce is championing the importance of paying suppliers promptly and within agreed timescales.
Help with managing your business Health check for your business:
Get a free review of your business with a professional business adviser for hands-on advice and help accessing the full range of government help – call the Business Link helpline, 0845 600 9 006 or visit www.businesslink.gov.uk/healthcheck. Also visit www.businesslink.gov.uk/realhelp for information on:
- Reducing waste and saving energy
- Staff restructuring and major change
- Alternatives to redundancy
Help with exporting:
visit the UKTI website www.uktradeinvest.gov.uk or call 020 7215 8000.
Solutions for business:
visit www.businesslink.gov.uk/solutions to find out more about other products in the Government’s portfolio of business support, including help with finance, premises, and manufacturing.
Help with investing for the future
Train to Gain provides Government funding and free, independent skills advice to businesses. It provides extra support for small and mediumsized businesses, including funding to retrain employees, access to short courses in businesscritical areas and leadership and management training. Find out more by visiting www.businesslink.gov.uk/realhelp and clicking on ‘Find funding to support your training and improve staff skills’ or call to speak to an adviser on 0800 0155545.
HMRC Supporting business through the downturn
If you’re worried about whether you will be able to pay your tax on time, then get in touch with HMRC’s Business Payment Support Service (BPSS) as soon as possible. The telephone number is 0845 302 1435 and the lines are open from 8am to 8pm during the week and 8am to 4pm at weekends.
The Chancellor announced in his Pre-Budget Report that HMRC had launched the BPSS to help businesses, including self-employed individuals, who are facing temporary financial difficulties because of the current economic climate and are unable to pay their tax. The service covers most taxes and duties including Income Tax, National Insurance, Corporation Tax, VAT and PAYE. The service offers a fast and streamlined way of setting up a time to pay agreement based on an affordable timetable. In the majority of cases the caller will get a decision and have a payment arrangement set up within 10 minutes. Please make sure you have the following information to hand: your tax reference number, details of the taxes that you are worried about and when you expect to be able to pay the bill.
Payment terms are agreed on a case-by-case basis and HMRC is prepared to be as flexible as possible, with the aim of bringing the business’ tax back up to date on a timetable that is both reasonable and appropriate to each individual situation. Some businesses will have larger or more complex affairs and it may not be possible to deal with the matter with one phone call. In these circumstances, HMRC undertake to get back with a decision within 4 working days
The service is intended for new enquiries only and supplements HMRC’s existing time to pay arrangements. If you have already been contacted by HMRC about an overdue payment then please call the office that originally contacted you.
If you need more information, please visit the HMRC website at www.hmrc.gov.uk/pbr2008/business-payment.htm.
Since its launch at the end of November to the first week of January 2009 the service has received over 32,000 calls and made over 16000 time to pay agreements over the phone worth over £255m.Additionally over 5300 cases worth in excess of £367 m have been referred for further consideration.
The service is there so that we know in advance of any problems. If you think that you will need more time to pay your tax, please contact us as early as you can. Please do not wait until the payment is overdue.