For many of the businesses we speak to, the news last week that the UK has dipped back into recession will not have come as a surprise. The economic landscape remains bleak, and almost all businesses are finding this year to be toughest since the Credit Crunch began.
As the economy stalls the Coalition Government has come under attack, and a lot of the fire has been focused on policies that emerged in the Budget in March. The headline writers have made hay with stories about tax cuts for millionaires which they’ve contrasted with the introduction of ‘pasty’ and ‘granny’ taxes for the rest of us.
But actually, if you can get past the media hysteria, there are some very useful tax reliefs for businesses which will help small firms. These reliefs have not been picked up by the mainstream media.
The one that we are most excited about is the Seed Enterprise Investment Scheme (SEIS). This new scheme has the potential to provide up to 78% tax relief, and help new startup businesses.
Normally when we write about tax relief, or a scheme, we ask to speak to people to take advantage of the scheme. But with SEIS it’s different. We already have a number of investors who wish to take advantage of this very generous tax relief. So this month, we are looking for businesses which are two years old or younger, or entrepreneurs with business ideas, who need funding to help get their business off the ground and help it grow.
There are strict rules on the amount and type of investment, but we can advise on that. The bottom line is new businesses can benefit from investment of up to £150,000 (with a maximum of £100,000 from any one investor).
If you think your business, or your idea, can benefit from such an investment, get in touch.
If you are an investor, and would like up to 78% tax relief on your investment, call us on 0161 832 4451, and we can tell you more about the scheme.