Businesses Offered Olympics Advice From HMRC

Small businesses around the UK have been offered online advice from HM Revenue & Customs (HMRC) with regard to the forthcoming Olympic Games.

The department has invited enterprises hoping to secure Olympics contracts to take advantage of an online seminar later this month.

Available from July 27th, the seminar can be downloaded for free from the HMRC website and will cover a range of issues that businesses are likely to face.

"It is estimated that the Olympic and Paralympics Games will involve more than 50,000 contracts, worth about £6 billion. The sectors affected range from construction, engineering and manufacturing to creative, merchandising and retail, and contracts will be available at or near the 34 Games venues around the country," the department said.

"The seminar will cover issues such as talking to a bank about financing, ensuring that the right systems are in place to comply with procurement policies and how firms go about making a bid for an Olympic contract."

Businesses will also be offered support and guidance on any tax obligations and entitlements they may encounter.