AUTUMN STATEMENT REVIEW
Editor | 23 November 2016
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The Chancellor’s first Autumn Statement was a mixed bag for self-employed workers and small and medium sized business owners.

Changes to the tax system will hurt some more than others, but investment in roads, railways, housing and the country’s digital infrastructure should benefit everybody.

Here are some of the most important points we have taken from the Chancellor’s statement.

The pound won’t be ‘round’ much longer. But what do business owners need to do to adapt to the change and how much will it cost them?

The new 12-sided pound coin will be put into circulation shortly after Christmas. The unusual looking coins has already caused a bit of a stir with the general public, but the Royal Mint says that a more ‘secure’ coin in necessary because the current ones are too easy to counterfeit.

New government backed funding options for small businesses

A new scheme will help small British businesses get access to funding after they have had a loan application refused by a major bank.

Launched earlier this month, the government backed scheme will boost the supply of finance for small businesses by giving them access to new and innovative funding options like those provided by financial technology start-ups.
Bank lending to small businesses has declined in almost every year since the financial crisis. Major high street banks refused around £4bn worth of formal loan applications last year.

Tomorrow CloudAccountant.co.uk will be observing the two minute silence for Remembrance Day

Tomorrow CloudAccountant.co.uk staff will be observing a two minute silence for Remembrance Day. We will be turning our phone systems to answering service for approximately 8 minutes from 10.55am. Thank you for your support and normal service will resume immediately after.

It was at this time, on the 11th hour of the 11th day of the 11th month in 1918 that World War I formally ended. It's a chance for us all to remember the sacrifices made by the armed forces and civilians, in times of war, both in the past and present.