SME leaders unsure of tax

Posted on 18 Dec 2013
Share Blog Post
SME leaders unsure on tax relief Research commissioned by digital bookkeeper app Receipt Bank shows that while 92% of SME owners claim to understand the UK's tax relief system, many are not claiming as much as they could. The study, which polled around 500 small business leaders, found that around six in ten did not know they could claim for relief on medical insurance or pension payments for employees, while just under half (47%) were unaware they could claim for staff training and 68% did not know claims could be made for staff events. The study also found that over than half of limited company bosses were unaware they could claim back money if their office was based in their home, with a similar proportion unaware charity donations, mileage and legal fees are also tax deductible. The poll saw 15% of respondents say they have not claimed for tax relief in the past due to a lack of understanding of financial jargon.

View more blog posts

New National Wealth Fund launched
Posted on 10 Jul 2024
New National Wealth Fund launched
read more
Tax freezes hit hard
Posted on 03 Jul 2024
Tax freezes hit hard
read more
IHT rises relentlessly
Posted on 26 Jun 2024
IHT rises relentlessly
read more
SME lending increases
Posted on 19 Jun 2024
SME lending increases
read more
Back To Top
01604 660661