Sheards Accountants are hosting an event on Thursday 28th March, to assist their clients and other local businesses, in assessing whether they have a potential to claim for R & D tax relief. They have partnered with “Catax”, who are experts in this area, to give an overview of what could be considered to be research and development. You are likely to be very surprised at what could be included!
Despite R&D tax relief being introduced in 2000, there is still a misconception about what actually constitutes research and development. As a consequence, R&D tax relief and tax credits are among the most under-claimed tax incentives currently available.
R&D tax relief has been introduced by the Government to help promote productivity in the UK. The relief is available for both products and processes. Furthermore, it is not just limited to new, innovative and novel products. For example, it could be claimed for duplicating an existing process or product in an improved way. It could also be claimed as a result of making a process faster or cheaper.
Businesses often think they can’t claim as they have been paid for the work, if they have failed to achieve what they set out to do, or more commonly, because the activity forms a major part of what they do every day in their business so doesn’t initially appear to stand out as R&D to them.
Business owners and advisors are encouraged to join Sheards Accountants for what will be an informative event and spread the invitation to others who they feel may benefit from attending.
Drinks on arrival at 11.00 am, with the presentation starting at 11.30am. The event will finish at around 1.00pm.
Following the Catax presentation there will be opportunity to chat individually with a Catax representative, and to network with other attendees, whilst enjoying a buffet lunch.