GET CLUED UP ON YOUR TAX RELIEF AND SAVE MONEY
July 29 2016.



Tax relief can be very useful for small business owners, helping you get money off things you may use every day in the course of running your business.


One useful tax relief business owners can claim is Annual Investment Allowance (AIA). With this, owners can deduct the full value of an item, such as a computer, where it is used solely for business purposes, from their trading profits before tax is calculated.

For business owners who need to travel for work purposes, you can claim 45p a mile for the use of your car, as long as it’s purely for business and not to go from your home to a your place of work. However, you will have to remember to keep a mileage log for proof.

Tax policy adviser at the Association of Accounting Technicians Brian Palmer says it is important to remember that you can claim tax relief for stamps or stationery purchased for business use.

‘Also, If you use your phone for business related calls, you are not on a fixed-fee arrangement, and you can show on your phone bills that those business calls have...... 


For the full story at smallbusiness.co.uk CLICK HERE.