Starting a new business? Get 40% off our accountancy services for 3 months! 😀


A new initiative launched by the UK government aims to give the unemployed a chance to start their own SME. Iain Duncan Smith, the Secretary of Works and Pensions announced that the scheme launched by the coalition government would give £2,000 to each unemployed individual who was eligible to start up a business.

Duncan Smith told the members at the Conservative Party annual conference that the aim was to have 10,000 new SMEs by next year. To be eligible for the new scheme, a person will have been unemployed for a minimum of six months. In return they will receive a financial package and mentoring to help them start their business. This is an incentive to help people to want to come off benefits and get back into the world of work again.

Along with other incentives for SMEs such as the National Insurance holiday for up to £5,000 for each of the first ten employees, this could be a successful initiative. For many people who decide to take advantage of the scheme, it would be prudent to consult a small business accountancy firm to obtain some advice before launching their business.

As there have been many legislative changes since the coalition government came to power, low cost accountants would be able to provide advice, as well as prepare accounts in order to complete a self assessment tax return. The £2000 is a generous incentive for a person who has been unemployed for more than six months, but a reputable accountant would be able to maximise business income.

Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.


You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?


Call us on 020 3355 4047 if you’re not sure.