Cut your Tax bill by 25p for every £1 spent on plant and machinery

Plus extra support for green and renewable projects

Yesterday’s Budget announcement introduced a number of stepping-stones to assist recovery, restore fiscal strength and to build long term, sustainable economic capacity.  Key measures to help SMEs build their businesses include:

The Super Deduction:

• A tax break for companies investing in new equipment
• Tax bills cut by 25p for every £1 invested
• Taxable profits reduced by 130% of the cost
• In place for 2 years, starting April 2021

This is a huge incentive for any businesses looking to invest in new equipment over the next two years.

The UK Infrastructure Bank:

• Investment in sectors such as renewable energy, carbon capture, storage and transportation
• Low rate loans for companies looking to play a part in helping the UK reach its net-Zero carbon targets
• Aim to attract £40bn of private investment into green projects

Ignition can help you take advantage of these initiatives to move your business forward.  We are on hand to assist with the funding of these investments to help your business grow. Contact us to find out more on 01872 272900.

Running a business and managing employees is never easy, and it can be particularly tricky to keep up with the ever-changing rules and regulations on employment law, HR, health and safety and environmental management.  Most SMEs don’t have a dedicated HR department to devise systems and handle these issues.

At Ignition, we can help businesses gain access to NatWest Mentor Services, which provide a range of tailored support to help SMEs successfully navigate these matters, providing you with the advice and legal protection your business needs to thrive.

Mentor customers can benefit from a range of services including expert advice from the Mentor Advice Service phone line, face-to-face support from a consultant, a range of training courses for employees, and access to online portals providing templates for documentation and employee records.

• Case Study – Mannamead Care

Mannamead Care runs five care homes across Devon and accessed Mentor to help streamline its business by creating one set of employment systems and protocols. Mentor’s team of business advisers helped to develop a structure where all the homes and their 220 staff followed the same processes and used the same legally up-to-date company handbook.

Philip Gerry comments:

“We always had good staff but giving them autonomy, consistent procedures and a really clear direction helps to build a really solid happy team, and improves staff retention.”

Daryll Hall, Mentor’s regional development manager for Devon and Cornwall, explains that Mentor helped the Mannamead team with a holistic approach to a number of issues:

“As a subscriber to Mentor, Mannamead staff now all have access to e-courses for such topics as safeguarding, health and safety and diversity. And of course, perhaps most importantly on a day-to-day basis, we are always available on the end of a phone if Phil or his team need any advice.”

For further information on the Mentor service, call us on 01872 272900.