Articles such as this rarely surprise me. Why? Simply because the people responsible for educating us (my business is definitely an SME) don't tell us.
At this point many people will think that it is the government's responsibility, but think about it for a moment. If they tell everyone about this, the tax revenues will go down and the austerity measures will have to get even tougher. They are doing some work to educate us, but they won't spend millions doing it.
It is our accountants and the tax advisors out there who should be telling us. Imagine what would happen to a tax advisor's business if he were to do more marketing around the amount of tax relief available. He get's a few new clients who then tell all their network, who then tell all their network.....
Worth a go?
SMEs are missing out on millions of pounds on offer from tax relief, new research has found. Direct Line for Business surveyed 180 SMEs and found the general understanding of what tax reliefs are available, and how to access them, is severely limited. Nearly half of SMEs have a “very poor” understanding of the government tax relief available, which amounts to nearly 3.5 million SMEs across the UK2 that may not be fully utilising the available tax benefits.