A report by unbiased.co.uk suggests that small and owner managed businesses in the UK will waste £7.15 billion of tax relief in 2012. That means that the average small to medium sized business in the UK will each pay out £1,500 in incorrect taxation payments. Alongside incorrect use of self-employment, pensions and research and development relief, the report found that the biggest wasted expenditure of £4.22 billion was spent on the incorrect business structure.
There are around 4.5 million small businesses in the UK and tax is a vast and complex subject. Many business owners fail to understand the many legitimate allowances and reliefs available to them. To help SMEs find ways they can reduce the tax bill for their own business, we have produced a free report which takes into account the latest proposal included in yesterday’s budget.
The free 9 page report summarises the 7 key areas of a company which many business owners overpay tax on because they do not fully understand the different tax reliefs, allowances and support schemes they are entitled to. To order a free, no obligation copy of the report, please email: email@example.com or alternatively contact us on 020 7330 1770.