Even with a little glowing light at the end this unimaginably long tunnel, it does feel like for 2021, things just managed to get worse. But we’re not here to spread doom and gloom. We want to bring hope and open your eyes to options that until now you might not have considered for your business.
More options than you realise.
You’re probably feeling like you’ve exhausted all of the support, funding and loans available to you. However, as Accountants and Advisors we have a duty to ensure our clients leave no stone unturned in these remarkable conditions we find ourselves in. And there are ways, many ways.
As expected, we have seen the government extend initiatives, pumping more money into the pot. Money to give businesses and individuals the necessary support to try and survive. But government support and loans are not the only options for businesses right now.
Cashflow from Tax Advice & Reliefs
We highlighted it back in March but still tax advice seems to be getting missed out of the opportunities.
Now is the time to consider tax reliefs and advice for your business
And there’s a lot to consider – see the image and summary below:
Tax is a very real cost to businesses. To fail to reduce it, is to miss out on money that should be working for you, in your business. Having an awareness of the tax consequences of grants and loans when using them is vital. You don’t want to walk into unexpected tax charges. But with the right advice you can identify major cash injections.
If you’re a business owner reading this, valuable tax savings could help counteract some of the damage you and your business are feeling right now. There are essential and popular advisory opportunities that can get money back in a relatively short timeframe with HMRC.
And tax savings don’t need to be paid back. No debt hanging over your head. Just money back into your business. Take R&D Tax Relief as an example, you could claim up to 33% of the costs incurred on activities that are considered eligible. This money can be used for absolutely anything.
Don’t leave any stone unturned
Work with us, or your Accountants and Advisers, and do not leave any stone unturned. Don’t miss out on any opportunity for money back into your business when you’ve come this far.
Take a look at the image and summary, see if anything flags up for you. If they do, let’s talk.
We can help get you through this.
Please get in touch to find out more.