A&L offers tips for small businesses on how to handle the Budget

With many of the detailed changes announced in last week's Budget having an impact on the running of a company, Alliance & Leicester Commercial Bank has today updated it's free downloadable tax guide to understanding the Budget.

The guide provides details on the allowances, tax bands and other relevant facts that businesses will need to understand the impact of the 2009 Budget.

Ceri Henfrey, Head of Business Banking at Alliance & Leicester Commercial Bank, said the guide provides practical guidance that will help all small business owners, and offered the following suggestions on what to do post Budget Day:

Seek advice. Consult professional advisors who will be able to guide you through how the changes will affect your business. A certified accountant or IFA will know the ins and outs of the Budget and can talk you through areas where you may want to make changes following the Budget.

Take advantage of positive Budget changes. Look to see if you can take advantage of any incentives that are included in the Budget which may help to reduce your running costs.

Keep a business diary. Know when new legislation comes into force and prepare well ahead of important deadlines. This will help ensure that you are best placed to avoid potential penalties for missed deadlines and can take advantage of any relevant incentives at the earliest opportunity.

Re-assess. Following the Budget re-assess your business plan to ensure you have a clear picture of where you stand financially and know what additional expenditure to expect over the coming year so that you can continue heading in the right direction.

The guide is available at alliance-leicestercommercialbank.co.uk/taxguide