The end of the tax year is approaching, on 5th April 2013.
Now is a good time to review whether to purchase new equipment, whether that is computers, vehicles or other assets that you will use in the business.
For the self-employed, qualifying expenditure will achieve tax relief in the accounts thereby reducing potentially your tax liability.
There is a double benefit, you have new equipment that can increase productivity in your business going forwards and also pay less tax as a result of the relief given against the profits from last year.
Please do contact me if you would like to review any purchases you are thinking of making, there is a good window of opportunity for planning in advance of the end of the tax year.
