The Treasury Select Committee has warned that cutting the deficit too quickly could risk pushing the UK back into recession.

Surely the government cannot continue to starve UK businesses of vital tax benefits and still expect them to remain in business.  It can only be a matter of time until SME’s begin to rock under the relentless rate of tax cuts and reduced levels or in some cases, blocked avenues of tax recovery.  All of which are considered to be vital life lines to 100,000’s of UK businesses.

Make full use of your tax benefits and tax recovery allowances whilst you still can!

In his first Budget last month, George Osborne set out plans to reduce the headline rate of corporation tax by 28% to 24% over four years in an effort to show Britain was “open for business”.

But this will be partly paid for by cuts in capital allowances, which provide tax breaks to firms investing substantially in operational assets such as machinery. Critics say this will penalise small and medium-sized manufacturing firms.

In May the government set up the Office for Budget Responsibility, to provide the government with independent forecasts of UK economic growth and public deficits.

Just another instance of a Government giving with one hand, only to take back with the other!

The government will start to reduce levels of Capital Allowance rates as of April 2012, all Commercial property owners are now urged to make their Capital Allowance claims now in order to fully maximise their tax allowances, and lock in future tax liabilities after April 2012.

Capital Allowances are somewhat of a specialised area, and in order to fully maximise your potential claim you are advised to seek specialised help and advice.

To arrange an informal meeting with one of our Capital Allowance specialists, please call us today on: 01246 293011, alternatively email sales@salmon-business.com

Further help and information may also be found on our web site at www.salmon-business.com