BUSINESS BANKING & FINANCE


FEATURE


‘Your business may be eligible to file an amended return and claim the relief for the previous two years - resulting in more money to grow your business and create new jobs’


MYTH: R&D tax relief won’t help my bottom line Working with small and medium businesses, MSC has been able to find tax savings from £1,000 to £100,000, with an average claim value of £45,000.


MYTH: It’s all too good to be true – there must be a catch R&D tax relief benefits thousands of companies a year and the relief has been part of the HMRC Corporation Tax relief for over ten years. While HMRC isn’t giving away this tax relief - you need to have proper documentation of your activities and correctly apply the law - it is certainly a relief that is widely recognised and utilised by a wide range and number of businesses every year.


MYTH: We are going to have tax reform and R&D tax relief is going to go away This scenario is very unlikely. R&D Tax Relief has been significantly improved in the past six years and operates in most EC nations. It provides incentives for UK-based limited companies to invest in the kind of R&D projects that will keep UK public limited companies competitive and provide future investment and jobs. MSC predicts it will stay in place even with tax reform - in fact, it could well be expanded. Moreover, in many cases, your business may be eligible to file an amended return and claim the relief for the previous two years - resulting in more money to grow your business and create new jobs.


business network November 2017


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