SMEs: Tax breaks too complicated
Have a read of this when you get chance from the website www.smallbusiness.co.uk. The website itself gives lots of useful advice for small businesses on a wide range of subjects, such as technology, banking, marketing etc.
Research of 950 small businesses by the Finance & Leasing Association has found that tax breaks designed to help small firms invest in new equipment are too complicated and are failing to boost spending.
Did you know that investing in new equipment means that you pay less tax on your profits?
Apparently, only 8% of the small companies surveyed found that the rules on capital allowances were easy to understand. That means that 92% didn’t!!!
If you are thinking of purchasing any new equipment, be sure to call me as you may be entitled to some tax allowance!
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I’d like to know what you think. Please leave a comment, ask a question, or post any insights you have.