We often think that HMRC are only after our hard earned cash, however this is not always the case!
Remember, there are a range of legitimate claims available to businesses to reduce the tax that they pay.
During the year to 31 March 2013 HMRC paid out over £4.6bn in corporation tax refunds.
As tax advisors we are always on the look out for ways to reduce your tax liability, accelerate relief or to utilise tax losses via methods such as:
- Claiming enhanced tax relief for expenditure on Research & Development
- Carrying back tax losses to prior years
- Maximising tax relief for capital expenditure
So, remember it is not all doom and gloom; maximising use of the tax reliefs available can save you £s!