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Being informed on taxation policies, incentives, and breaks that apply to your business can help you save on money that you would have lost. One of the ways this can happen is increased cash flow from tax relief. Small and medium enterprise business owners mostly miss out on such opportunities because they do not understand the rules. This information is available from experts when you find accounting businesses near me.

Below are some of the common tax incentives available for small and medium business owners according to bookkeeping and accounting in London experts.

Register for VAT

Registering for VAT pays, irrespective of your level of revenue. Well, this might not look like it can be beneficial in any way. Most people would think that not registering will help them save the cash that they would remit to the tax authority.

But look at it this way, registering for VAT will boost your cash flow and allow you to add 20 percent to your payables. This will increase your income in the short term period. The other benefit of registering for VAT is that it can open for you more opportunities. There are organizations, for example, that will only contract suppliers who have registered for VAT.