Tips to save tax - purchase of equipment or vehicles

If you are approaching your accounting year end and you know you are going to make a purchase of plant and equipment or change your Car or Van (which you use in connection with your business) then it makes sense to make this purchase before your year end rather than after. If you leave it till after, then you will have to wait until the next year end to get the benefit of the expenditure. Remember though this is only relevent if you were going to make the expenditure for sure. If not dont do it for the sake of it, cos you will only get £20 back for every £100 you spend and just to save tax without any commercial basis for the expenditure would be silly!