Tax Reduction for Businesses
In the UK, businesses can reduce their tax liability by claiming certain expenses. Here are some tips on how to reduce your business taxes:
1. Capital allowances: businesses can claim capital allowances on certain plant and machinery purchases.
2. Research and development (R&D) tax credits: businesses can claim R&D tax credits for eligible R&D expenditure.
3. Enterprise management incentives (EMI): businesses can offer share options to key employees via an EMI scheme.
4. Patent box: businesses can benefit from a reduced rate of corporation tax on profits derived from patented inventions.
5. Employment-related securities: businesses can defer or eliminate capital gains tax on the sale of certain employment-related securities.
6. Structures and buildings allowance: businesses can claim a tax deduction for the costs of constructing or refurbishing commercial buildings.
7. Enterprise zones: businesses located in enterprise zones can benefit from various tax incentives, including reduced rates of corporation tax.
Contact Expert Accounting and Finance for further information or advice.
Accountant
Bookkeeping & payroll services
Cloud Accounting & MTD
Tax & Vat Returns
Tax and Tax Planning
