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Bideford business start-up grants

There’s not a lot of help available to people starting a new business.

Free advice and support is available through the ICAEW Business Advice Service and there’s information on the Business Link website. But in terms of financial assistance there’s not a lot out there. Most grants schemes only apply to established businesses. Often they need to have been trading for several years.

There is, however, one grant available that can help new businesses start-up in Bideford.

Bideford Bridge Trust offer a business start-up grant of up to £3,000 for businesses in their first year. The scheme is administered by Mike Lillis of Enterprise Start-up North Devon.

When the business enters its second year, it becomes eligible to apply for a second grant, which takes the total amount receivable up to £5,000.

To be eligible for the grant, you have to live in Bideford or the surrounding area.

For guidance concerning the grant process please contact Mike Lillis at Startup North Devon (complete their contact form).

If you need any help or advice concerning the best business structure for you, business plans, cash flow forecasts or strategy then please call us on 01237 421342.

 

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HMRC taskforce targets South West holiday trade

The focus of HM Revenue & Customs’ activites has increasingly been on investigations, with a series of task forces launched to tackle tax evasion in specific trade sectors and areas. They have now announced the creation of a task force to investigate tax evasion by the South West holiday trade.

Focusing in specific areas and industries allows the enquiries to make greater use of local knowledge and establish patterns of evasion.

Naturally their interest in the south west is the holiday trade. This is quite a wide business sector. However, our understanding of how these task forces have operated in other parts of the UK would suggest that as well as cash businesses (which we would expect to be targetted) they will be looking at accomodation providers – hotels and bed & breakfasts.

One of the main things they will be looking for is undeclared income, where businesses have made sales for cash and then not included it on either their self-assessment or VAT returns.

If your business is selected for inspection, this doesn’t mean that you’ve dome anything wrong, it just means that your trade is considered more prone to evasion.

Dealing with a tax investigation can be costly and time consuming. That’s why we offer all of our clients tax investigation insurance so they know they won’t incur any additional costs should HMRC select them for investigation.

If you want peace of mind against the risks and costs of tax investigation, then contact us today.

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Top tips for starting a business

Open your own business

Why not start your own business?

The news at the moment is full of stories about big businesses failing. In a matter of days our High Streets look like they will have lost HMV and Blockbuster. A lot of people will be losing their jobs. Some of them will deal with this by starting their own business.

We’ve recently contributed some articles to the Izzbox – Find An Accountant directory that could help anyone who is thinking of setting up in business.

First of all, here are my top ten tips for starting a business. They can help you get your business off to a good start.

Here’s start-up advice from twelve professional accountants.

Anyone thinking of starting a business can have a free initial consultation with us as part of our commitment to the ICAEW Business Advice Service.

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