R&D TAX RELIEF – DON’T MISS OUT ON CLAIMING THIS!
If your business is a limited company, and you carry out a ‘trade related project’ that will achieve ‘an advance in overall knowledge or capability in a field of science or technology through the resolution of scientific or technological uncertainty’, then you can almost certainly claim R&D tax relief.
You can reduce the company’s corporation tax bill, or if the company is making losses, get cash back from HMRC.
We can submit these claims for you, so please give us a ring to see if you qualify.
Capital Grants and Employee Funding
There are grants and funding available for small businesses (including sole traders and partnerships) at the moment, funded by the Welsh Assembly, local authorities/regions and Job Centre Plus. There are two main types:
1. Capital grants – matched funding (usually up to 50%) for plant and machinery, building improvements, etc, possibly up to £100,000 in value
2. Employee funding – financial incentives to take on new employees (usually young people or those out of work for several months), comprising all or part of wages plus NI paid, often for a period of 6 months to several years
If your business is expanding and you plan to invest in machinery or take on new staff, it is worthwhile giving us a ring to talk through the funding and incentives available.