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


George Osborne will provide a much needed boost for UK Small and Medium Enterprise when he delivers the Autumn Statement on Tuesday 29th November. He is due to reveal details of a credit easing scheme worth £20 billion.

During an interview with the BBC on Sunday morning, the Chancellor spoke of the introduction of a National Loan Guarantee Scheme, part of a package of measures worth around £40 billion. The scheme would involve borrowing from banks being underwritten by the government to provide credit at a lower cost. The banks will pass on the savings to businesses with less than £50 million turnover. Speaking to Andrew Marr, the Chancellor said that the scheme would involve very little risk to the government, with the banks carrying any risk of lending to businesses. The Chancellor said:

“If you’re a business borrowing money at 5pc we might be able to cut the interest to 4pc. The economic situation facing many countries at the moment is very, very difficult, and that’s clearly had an impact on the UK.”

The scheme aims to reduce the cost of borrowing for SMEs, stimulating private sector businesses. Ultimately, it is hoped that the process will create jobs, boost economic growth and avoid falling back into recession. Among other plans to be outlined in the Autumn Statement are details of an investment fund in the private sector, which will provide loans to medium sized businesses. The government will have some involvement in the fund, and it hopes to encourage an alternative source of lending for businesses.

About The Author

Gary Fields

Content Writer working alongside our expert accountants to bring you the latest Tax and Accounting news.

More posts by this author
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.