Quite a few, and which apply depends on what your company does. The main categories are capital allowances on qualifying asset spending, research and development relief, loss relief, and a set of sector-specific reliefs. They are claimed through the corporation tax return, and eligibility conditions are strict, so your accountant should confirm each one.
Capital allowances are the most widely relevant. They give relief for capital spending on plant, machinery, commercial vehicles and equipment that you cannot deduct as an ordinary expense. Some spending can be written off in full in the year of purchase through the Annual Investment Allowance or a first-year allowance; the rest is written down gradually in pools at rates fixed in legislation, with cars and certain fixtures in pools of their own. There are also allowances for qualifying non-residential construction and conversion work. The limits and rates are revised at Budgets, so check them on gov.uk.
Research and development relief is available where a company is seeking an advance in science or technology and resolving genuine technical uncertainty. The schemes have been repeatedly reformed, the rates have moved with them, and claims now carry notification and supporting-information requirements that catch out first-time claimants. Check the current rules on gov.uk before you build a claim into your plans, and do not assume routine product development qualifies.
Loss relief lets trading losses be set against other profits, carried back to an earlier period or carried forward, within limits. Beyond that there are reliefs for patents, creative industries, land remediation and charitable donations, among others. Whatever the relief, it is worth only your company’s prevailing rate of corporation tax, not the headline amount claimed.
Asset finance interacts with all of this. Whether an asset qualifies for capital allowances, and who claims them, depends on the agreement — hire purchase and lease purchase generally put the asset on your balance sheet, while leases and contract hire generally do not. We can explain how each structure works. Your accountant should confirm what you can actually claim.
This is general information, not tax advice. Confirm your own position with your accountant or HMRC.