The start of a new calendar year is a good time to reflect on whether or not your company is making use of all the reliefs and allowances available to it. 

These include:

• Research and Development – If your company incurs expenditure on a project that seeks an advance in science or technology, (for example, developing new or improved products or processes) it could be entitled to tax relief or a cash payment from HMRC.
• Capital Allowances – If your company buys a second hand building, agree with the seller the amount apportioned to fixtures. If not, the capital allowances available to your company could be nil.
• Annual Investment Allowance – Remember, 100% tax relief is available for up to £200,000 p.a spent on most plant and machinery from 1 January 2016.
• Pension Contributions – companies get tax relief for amounts paid to staff pension schemes.  Ensure payment is made pre your company’s year-end so as to claim the deduction.

Got a query? 

If you’d like to find out more information on any of the areas above please contact Susie Walker on Susie.Walker@jcca.co.uk .