Tax considerations in 2015 for SME’s – headlines

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For the business:

100% Business Rate Relief for rateable values below £12,000.

Employment Allowance on Employer National Insurance worth up to £2,000.

Only 10% Corporation Tax through patent Box Scheme.  SME’s can claim a lower rate of Corporation Tax on profits earned from patented inventions.

Claim up to 32.6% of R&D costs back through R&D Tax Credits.

For Investors:

30% tax relief through EIS on investments up to £1m; and

50% tax relief through SEIS on investments up to £100k.

Personal:

Personal tax allowance increases to £10,600 in 2015/16; and

ISA Allowance increases to £15,240 in 2015/16.