May’s top tips article from CBHC is like a little bag of treats – there’s sure to be something in here which will make your business sweeter…
- With corporate tax rates falling and NI for the self-employed going up again, it’s now even more beneficial for businesses to incorporate. If you’re currently a sole trader, get in touch to find out how much you could save.
- At last some good news for company cars! Vehicles with CO2 emissions of 110g/km get a full 100% tax write off (FYA) in the year of purchase. Visit www.SMMT.co.uk to check out which models qualify.
- Retain talent and save tax with employee share option schemes under EMI. Not only are key employees locked in, but also the company issuing the shares at the discount can claim tax relief on the discounted value in the year the employee exercises the option. More on this topic next month.
- You don’t need to be a technical company to qualify for R&D tax relief. There’s still time left to benefit from the current relief which means that for every £1,000 spent, approximately £450 in tax as a minimum is refunded.Click here to read our article on Research and Development tax relief