People looking into agency invoice financing in the hope of setting up a recruitment company are set to benefit from new measures announced by the government.
The Treasury has announced the establishment of the Office for Tax Simplification, which is aimed at handling tax reliefs and making life for small business easier with the streamlining of tax.
A board of tax experts who will be responsible for leading the work of the office over the next year will identify areas where complexities in the tax system can be reduced.
Commenting on the development, chancellor George Osborne said: "The previous government took a complex tax system and made it even worse.
"A decade of meddling and intervening has made the tax affairs of millions of families and businesses across the UK extremely complicated. We need to sort out this mess."
Recruiters who set up an agency can enlist the help of professionals by outsourcing back office requirements such as invoice financing, timesheet management and payroll management.…
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able, according to the Federation of Small Businesses (FSB).
Those who have set up recruitment companies may be facing financial difficulty due to the economic climate as the latest Red Flag report has revealed that there has been a rise in the number of businesses in distress.
A 14 per cent increase in companies facing financial distress was recorded in the first quarter of 2010 compared to the last quarter of 2009, which is the second consecutive quarterly rise.
The FSB's national chairman John Walker said the government can help by "making it harder for HM Revenue & Customs to close small businesses down if they are late on tax payments".
Companies should also be given better access to affordable finance and credit and the government and big business should "pay invoices on time to ensure a steady cash-flow in the small business community".
Outsourcing back office services, such as invoice requirements, can help companies free up time to concentrate on growth.…
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of the factors preventing people from setting up a recruitment company, but measures being proposed by the government could change this.
Those looking into how to set up a recruitment company will be glad to hear that business secretary Vince Cable and chancellor George Osborne recently launched a paper on the issue.
It seeks to encourage an industry-led recovery by addressing the problems businesses face in accessing finance in order to stop it from being a barrier for companies looking to invest.
"I've heard the problems businesses are facing in getting bank loans up and down the country," commented Mr Cable.
"If we don't anticipate and tackle finance barriers now we could face a big problem in the future. Left unchallenged, a lack of accessible finance for businesses could prevent the recovery accelerating."
Those who have set up a recruitment company may want to consider outsourcing back office solutions such as invoice payment and timesheet management to free up some of their valuable time.…