Increasing cash flow and being tax-efficient are usually near the top of every small business owner’s agenda. One way to achieve both these aims is to take advantage of the various tax incentives available to businesses.
However, small businesses often miss out on these tax breaks because they either don’t know what they’re entitled to, or can’t find the time to make a claim. So to help you save time and money, here are five tax incentives and tax relief opportunities small businesses can take advantage of; (more…)
To help small business owners and company directors stay up to date with all the various tax rates, thresholds and allowances that might be needed for tax calculations, here is ByteStart’s summary of the main tax rates, tax bands, and tax allowances for the tax year from 6 April 2015 to 5 April 2016.
When you buy certain new equipment, invest in buildings or research and development, you can deduct a proportion of the cost from your taxable profits and reduce your business tax bill, through Capital Allowances.
Capital Allowances take the place of commercial depreciation, which is not allowed for tax. Using them effectively can be a huge boost to your business, especially if you need to invest to fund growth.
Here’s a look at the main elements of the various capital allowances schemes and how your business can qualify to take advantage of them. (more…)