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Small Business Tax Planning: All you need to know from start-up to retirement by Russell Cockburn

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2. Tax Incentives when Starting a Business

Introduction

When starting a new business you will probably need all the financial help you can get. You will not want to be paying more for the essential plant and machinery than you need to and it may be possible to get tax relief on the costs of borrowed money. Such tax reliefs will reduce the costs you incur when starting out, so it is important to make the most of what is available.

The UK tax system offers some specific fiscal incentives and tax reliefs for particular types of business investments in equipment and capital goods of certain categories defined by law. Some things qualify for tax relief whilst others do not. Making sure that you buy the right type of machinery, vehicles or general ...

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