Tax Breaks
Five powerful Tax Breaks every month. See how much they could save you

May 2012

  • Get your VAT back on debts

    It’s bad news if a customer can’t or won’t pay, and where you’ve already handed over VAT on the sale to the Taxman it adds insult to injury. Of course, you’ll get the VAT back if the debt goes completely bad, but how long do you have to wait and could you avoid paying it in the first place?

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  • Green car tax deductions

    We all know about the government’s policy on making company cars greener by offering lower tax charges to drivers of low CO2 emission vehicles. But there are also incentives for the businesses providing the cars. How can you make sure you don’t miss out?

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  • Don't replace, repair instead

    The cost of replacing or rebuilding parts of your business premises usually counts as capital expenditure, which means you’ll only get a tax deduction if you make a capital gain when you sell the building. That might be years in the future. But did you know in some situations you could use anti-discrimination rules to get a 100% tax deduction from your profits?

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  • Choosing equipment for maximum tax efficiency

    When it comes to renewing equipment used in your business the Taxman offers special incentives if you buy specific makes and models which save energy or water. But first you need to track them down and find a supplier. How do you do this? 

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  • Deferring tax on investment income

    If the Taxman has his way he’ll reduce your PAYE code number as far as possible so that he collects more tax from your salary. He’s allowed to do this, but the regulations limit the deductions he can make. However he’ll often chance his arm and go for more. When and how can you put a stop to this?

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