Businesses, partnerships and individuals can cut the real costs of investing for the future by securing valuable tax breaks. But at a time of great global uncertainty, the challenge is to ensure that those tax breaks are reliable enough to build into any forecasts of cash flow and working capital, which is where Six Forward can help.
The uncertainty is obvious enough, with the pandemic and war in Europe, not to mention rising interest rates and the challenges of trying to meet environmental targets. And even our domestic tax rules are far from stable, as has been clearly shown by the differing views in the recent contest to choose our new prime minister.
The rules giving tax breaks for larger assets – such as cars, computers or property – are complex. Where properly handled, though, they offer tax savings – by way of “capital allowances” – that are not only valuable and certain, but that are also fully approved by the taxman.
These tax breaks are especially valuable for those that buy, build or improve commercial property including holiday lets, offices, hotels, warehouses, doctors/dentists and even farm buildings. In many cases the rules may also allow tax breaks for older costs, perhaps even from many years ago.
Investing for the future is a big decision for any business but the ability to get a dependable contribution from the taxman of (typically) 5-10% of the cost is a valuable prize in real cash terms. Six Forward are the Capital Allowances Experts providing certainty in uncertain times for us all.
