With a raft of tax cuts and policy reforms announced in the Chancellor’s Mini Budget, we caught up with Time Finance’s CEO, Ed Rimmer, to get his thoughts on the new measures announced and what they really mean for small businesses.
SMEs account for 99.9% of the UK economy, but they were not at the forefront of the Chancellor’s Mini Budget. Scrapping the planned rise to Corporation Tax and reversing the rise to NI is welcome news for all businesses, as are the measures to curb energy bills, but these tax cuts will disproportionately benefit those that are less in need. Where are the measures to support small businesses in making investments for their growth in terms of skills and research and development? SMEs are the backbone of a healthy economy and yet there is little to support them aside from reduced energy costs, marginal tax cuts and a promise of a simplified tax system.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans.
