Most businesses will need to borrow money at some point, whether when starting up, funding growth or purchasing equipment.
It is possible to cut the cost of borrowing by doing it in a way that reduces your overall tax bill. Tax relief on borrowings is not sufficiently exploited by some businesses.
Tax relief may offset the costs of some types of borrowing - though not all. Careful consideration must be given to the implications of all borrowing.
This guide illustrates some tax-efficient methods of borrowing for example, tax relief for buying or leasing assets or perhaps you may decide to borrow from the directors' pension scheme.