How the Latest Growth Forecast May Affect Your Business

The Bank of England has cut its growth forecast to close to zero from about 0.8% predicted in May. And this leads to the intensification of the as the double-dip recession. The quarterly inflation report of the Bank of England has indicated no growth for 2012, compared with 2% predicted a year ago.

According to the Bank of England, the doom and gloom of the UK economy is further brightened by the ongoing Eurozone crisis. “The big picture is that output’s been flat for two years, and has continually disappointed expectations of a recovery,” this is according to the Governor of the Bank of England. He said that the future was unpredictable, since no-one could predict what would happen in the euro zone crisis, which would have an impact on the UK.

Source; bbc.co.uk

But it is not all doom and gloom. If you are clever enough, you can be successful even during the tough times. The best thing to do is to better manage your business finances and tax exposure. Contact an experienced accountant of a tax advisor on you can achieve your business goals even during these tough times.

Contact KVS Accountants on 020 7731 6131 for a free initial appointment to discuss your tax affairs. We serve as tax advisors in West Kensington, Earls Court, Barnes and Wandsworth

 

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