Tax Breaks for Growing Businesses

Objectives

The main objective of this course is to alert delegates to the key tax breaks available to growing businesses and their investors.

After the webinar delegates should be able to explain the tax breaks to the owners of growing businesses to assist them in raising finance to fund the expansion and also help them attract and retain key staff.

The schemes outlined on this course are complex and delegates may need to consult with experts in the specialist areas.

Key topics

CHOICE OF BUSINESS STRUCTURE

• Is a Limited Company Still Best?
• Tax incentives that only apply to limited companies
• Relief for Start up losses
• Limited Company v Partnership/LLP
• Spouses Wages - Making use of the Employment Allowance

THE UPS AND DOWNS OF CAPITAL ALLOWANCE RATES

• Overview of recent capital allowances changes
• Integral features
• Annual Investment Allowance (AIA)
• Small plant and machinery pools
• Capital allowances on cars
• HMRC Update Manuals for Double Cab Pick Up Change

FULL EXPENSING AND 50% FIRST-YEAR ALLOWANCE

• “Super-Deduction” Replaced by Full Expensing
• 50% FYA for “Special Rate” Pool Equipment
• Extension of Relief to certain leased assets

STRUCTURES AND BUILDINGS ALLOWANCE

• Tax relief for the Cost of Constructing Commercial Buildings
• Renovations and subsequent capital works
• Periods of Disuse or change of use of a qualifying structure or building
• Interaction with capital gains

GOODWILL AND INTANGIBLES

• Goodwill amortisation abolished if acquired after 7 July 2015
• Tax relief for Goodwill available in Limited Circumstances

R&D TAX RELIEF

• What is research and development?
• Capital expenditure
• Tax relief for Qualifying Revenue expenditure on R&D
• Small and medium-sized enterprises
• Qualifying expenditure
• R&D - Merger of Two Schemes and “R&D Intensive” SMEs

PATENT BOX RELIEF

• What type of Patent qualifies?
• The types of income that qualify:
• What profits qualify for the reduced rate?

ATTRACTING AND RETAINING KEY STAFF

• Why Have a share scheme?
• Share options and share incentives
• Advantages of Approved share Schemes
• Overview of approved Schemes
• Enterprise Management Incentives (EMI)
• Corporation Tax Relief for Employee Shares

ATTRACTING EXTERNAL INVESTORS

• Overview of Enterprise Investment Scheme (EIS)
• Qualifying Trading Company
• Qualifying individuals for EIS
• Seed EIS (SEIS)

Who should attend

Partners and staff in practice who advise growing businesses and need to keep up to date with tax breaks available to attract investors and key staff.

The webinar would also be a useful refresher for those working in the tax department.