When completing your tax return there may be allowances you can claim to legally and ethically reduce the taxable profits.
One way is with Annual Investment Allowance (AIA)
When your business buys a piece of equipment that qualifies for the annual investment allowance, you can deduct 100% of the cost of that asset from your business’s profit, before you work out how much tax is due on that profit.
Alternatively, you may be able to reduce it with Writing Down Allowance (WDA). Which is a smaller % reducing the value of the asset over a longer period of time and thus reducing the taxable profit at each stage.
Why use an Avanti Tax Accountant? – because our client’s returns are submitted On-Line, On-Time, No Fine!
If you know someone we can help, please do get them to give us a call (08000) 388 799