Business and Other Briefings
BIS: Start-Up Loans, the £112m government scheme created to help young people to start their own business, has now supported its 1,000th young entrepreneur.
HMRC: Self Assessment (SA) tax cheats in London & the South East will be targeted by a new HM Revenue & Customs taskforce. The taskforce will put the spotlight on people abusing the Self Assessment system fraudulently to claim back money they are not entitled to. It is expected to recover £6m and prevent future fraudulent repayments being claimed.
CBI: The CBI has commented on an OECD report on international taxation.
WAG: First Minister Carwyn Jones has confirmed the establishment of a permanent Welsh Government representative at the British Consulate in San Francisco during his trade mission to the US West Coast.
CBI: The CBI has commented on London Stock Exchange’s initiative to help high-growth firms list on London’s public markets.
GPS: Lot 1 of the Payment Solutions framework (RM537) for payment cards has been extended until 31 January 2014. A new procurement is now underway to replace the Fuel Cards & Associated Services framework which is due to expire in August 2013.
WAG: Business Minister Edwina Hart recently launched the second phase of the Wales Economic Growth Fund – a £30m Welsh Government funded economic stimulus to create jobs, growth & wealth. The non-repayable funding is designed to help create & safeguard up to 3,000 jobs and assist around 200 businesses across Wales.
The new Fund will be delivered in 2 tranches:
* the first is geared to support the needs of smaller businesses requiring funding of between £50,000 & £100,000. Expressions of interest should be lodged between 1 March - 5 April 2013 followed by detailed applications between 3 - 31 May 2013.
* A further round will open in the autumn for businesses requiring larger investment of over £100,000 and details of this will be announced nearer the date.
HMT: New rules that will allow government departments to ban companies & individuals which take part in failed tax avoidance schemes from being awarded Government contracts have been unveiled. The rules, which are proposed to come into effect on 1 April 2013, are outlined in draft guidance published for consultation by the Government – See ‘Consultations’ section for more information.