Even with a little glowing light at the end of 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, at JDA we want to ensure we leave no stone unturned in finding support for our clients.
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. If you fail to reduce it, you miss out on money that should be working for you in your business. It is vital to have an awareness of the tax consequences of grants and loans when using them.
(If you’d like some guidance on what funding is available to you, take a look at our Access to Government funding blog)
You don’t want to walk into unexpected tax charges. But with the right advice, you can identify major cash injections which in some cases will throw your business a lifeline.
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.
Even if your business is doing great at the moment, there is always room for improvement and running your business through a health check won’t do any harm, will it?
Don’t leave any stone unturned
Work with us, 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 and see if anything flags up for you. If they do, let’s talk.
We can help get you through this.
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If you’d like a meeting or a Skype call to discuss this, please get in touch with your favourite Liverpool accountant
- You can ring us on 0151 380 8080
- You can email us at gr****@jo******************.uk