5 Overlooked Tax Reliefs That Could Save Your Business a Fortune

Running a business is hard enough without overpaying HMRC. But most business owners leave money on the table simply because they don’t know what’s up for grabs. Here are five tax reliefs you should know about.

1. R&D Tax Credits (No, It’s Not Just for Scientists)
If you’re creating new products, systems, or processes, you might qualify for Research and Development tax relief. Yes, even if you’re not wearing a lab coat. It’s money back on innovation.

2. Capital Allowances (Claim on Your Shiny New Kit)
Bought a new van, laptop, or coffee machine for the office? You can claim tax relief through capital allowances. It’s like a refund for investing in your business.

3. Electric Vehicles (Save Tax, Save the Planet)
Buying or leasing an electric car through your business is a no-brainer. You’ll get reduced Benefit-in-Kind rates (currently 2%), and the car can qualify for 100% first-year capital allowances. Translation: big tax savings.

4. Annual Investment Allowance (For the Big Stuff)
You can claim up to £1 million a year in tax relief on business equipment, tools, and machinery. Yes, one million pounds.

5. Small Business Rates Relief (Stop Overpaying)
If you have a small office or retail space, check if you qualify for business rates relief. It’s often overlooked, but it could save you a chunk of cash every year.

Don’t let tax reliefs gather dust—use them. If you’re not sure where to start, ask an accountant or adviser. It’s like finding money down the back of the sofa, except better.

p.s not advice obvs!