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New Funding for the North East
A new £125m “super fund” was officially launched on 22 January, aimed at supporting hundreds of businesses which will help lead the North East’s economic recovery. The Finance for Business North East Fund was unveiled by Rosie Winterton MP, Minister for Regional Economic Development and Co-ordination, to scores of businesses at an event at Ramside Hall Hotel, Durham. The new fund, formally called JEREMIE, will underpin the growth of business start-ups, technology-based companies and growing smaller businesses, helping to create jobs and prosperity for the region through targeted loans and equity investments. Over the next five years, it will support up to 850 small and medium-sized North East companies, with the aim of creating more than 5,000 jobs. Companies interested in accessing fund finance can register their details now
on this
website and they will be contacted by a fund manager or go to
http://www.northeastfinance.org.
For further information contact Gordon Arnott, PR Manager at One North East – Tel: 0191 229 6309 – E-mail:
gordon.arnott@onenortheast.co.uk |
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Changes to EC VAT System
A recent package of changes to the EC VAT system came into effect on 1 January 2010, which includes:
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Changes to the rules on the place of supply for services for business-to-business (B2B) and business-to-consumer (B2C) transactions.
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New requirements to complete EC Sales Lists (ESL) for taxable supplies of services.
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The introduction of an electronic VAT refund scheme.
Most of these changes relate to the implementation of the new EU services directive. This should be good news as it means the rules are being simplified. However, companies should look at reviewing their accountancy and IT systems.
See
website. |
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Easier Electronic Payments Between EU Countries
The Single Euro Payments Area (SEPA) is an initiative of the European banking industry that makes all electronic payments across and with the euro area – eg by credit card, debit card, bank transfer or direct debit – as easy as domestic payments within one country. The SEPA project is strongly supported by the European Commission and the European Central Bank. The Payment Services Directive provides the necessary legal framework for
SEPA, as well as for better payments in all EU countries. See
website. |
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Government Scheme on Apprenticeships
Major UK employers are expecting to hire thousands of apprentices in 2010 and the Government is encouraging all businesses to take up the new Apprentice Grant for Employers (AGE) scheme offering a £2,500 grant for each 16 or 17 year-old apprentice taken on. The Government will create a modern class of technicians through a dramatic expansion of advanced apprenticeships, creating 35,000 new places over the next two years.
www.bis.gov.uk/skillsforgrowth. |
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BFPA Training for Safer Hydraulics
The British Fluid Power Association (the trade association for the hydraulics industry) has developed a
Foundation Course in Working Safely with Hydraulic Hose and Connectors. The course lasts one day and includes practical tuition, video demonstrations of potential hazards, explanations of reasons for hose/connector failure and a range of other information. Everyone who completes the course is given a specially written 64 page reference book and is awarded a certificate of attendance. The cost is £225 per person for members and £295 per person for non-members. A small price to pay for better safety awareness. For further information contact Stefanie Kearney,
stefanie@bfpa.co.uk, tel: 01608 647900,
www.bfpa.co.uk. |
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