LoginPage 0: Introduction
Setting up and running a business can be a daunting prospect. There are many decisions to be made e.g. what goods and/or services to produce, where to set up, how to advertise, what prices to charge, how to raise finance. There is also important paperwork to master and maintain. Fortunately, new business owners are not left to do all this alone. Several bodies can provide helpful support and...
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Page 1: Business growth
Many business owners regard business growth as desirable. So, too, do governments. There are many ways in which businesses can grow e.g. by:
increasing the value and volume of their sales
employing more people
producing a wider range of goods and services
expanding to larger and better premises
starting to export to other countries.
Another possible route to growth is for a business to...
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Page 2: Growth of business and taxation
From the day that a business starts up it will engage with the tax system.
As soon as a business employs its first member of staff it will be involved in deducting Pay As You Earn (income tax) and National Insurance payments from their wages. If it employs other people, it needs to keep full records of what it's paid them, including wages, payments and benefits. Business owners are...
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Page 3: Helping business
Government plays a key role in providing business with advice and support. For example, the government organisation Business Link gives advice and support to new businesses (see www.businesslink.gov.uk). Regional Selective Assistances, a system of government grants, also provide help on new business projects. For people new to running a business, the taxation system may seem daunting. Inland...
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Page 4: Communications
To best serve the UK economy it is important for the Inland Revenue/Customs & Excise to communicate with the wider public about tax collection issues in an efficient way. There are a range of communications methods available. Clear communication helps to reduce the cost of tax collection, which leaves additional money available for other government spending projects - e.g. on schools. The...
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Page 5: Conclusion
In healthy economies, businesses prosper and co-operate closely with government. The Inland Revenue/Customs and Excise play an important role not only in helping businesses to understand the tax system and pay their taxes on time with the minimum of effort. The Inland Revenue/Customs & Excise play a key role in helping new and existing businesses to create a more vibrant economy. Providing...
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