As you approach your year-end, whether this is aligned with the UK tax year, it could be time to invest in the business – tax relief on purchases can make a welcome addition:

[youtube http://www.youtube.com/watch?v=03RV_-AXOfE?rel=0&w=560&h=315]

Transcription of Video – Click “Read More”

Hello, I’m James McBrearty, I’d like to talk to you about asset purchases.

Now we’re coming up to the end of the tax return year on the 5^th of April and for a lot of people can be considering some actual new equipment for 2013. So when you’re looking at that it is important to remember that you will actually get tax relief on that in your accounts. So if you need a new computer or some other equipment now could be a great time to buy it. It would go into your business accounts as an expense in the 2013 year, and that has the effect of reducing your profit. So you are getting tax relief on that equipment.

The secondary advantage is because you got the new equipment you can probably do your business a little bit better. Maybe it’s a faster computer or something like that. So you’re actually getting the benefit of tax relief on the equipment and then the equipment can actually earn you some more money over its lifetime. So now can be a great time to actually think about buying those assets to get your tax relief and it’s even something that I’ve seen online, a famous computer manufacturer has actually been advertising. “Now’s a great time to buy that new computer.”

And it is, if you are thinking about buying a new computer or any other assets, please, do get in touch and we can talk about the best way to actually put those through your accounts and insure that you’re purchasing them the right way to get the most tax relief.