“I found when I started working on capital
allowances that it appealed to my natural nosiness and my love of detail. I would get to look at every aspect of a business, digging down to fi nd the ways in which investment in buildings, renovations or new construction, qualifi ed for tax relief. “In the case of R&D Tax Credits, people hear that
and think it’s about science labs or IT innovation, but that’s not the case. Any company that is spending money on innovating or improving their products or services can claim it – it’s usually a fast turnaround in terms of getting a decision, so it’s great for cash fl ow and once you’ve got the go ahead, the benefi ts are immediate.” Current statistics show that in the region of 85% of businesses that would qualify for R&D Tax Credits are not claiming money they are entitled to, while many miss out on capital allowances because they aren’t clear about rules and regulations. “Most accountants are not surveyors and therefore not experienced
enough to value fi xtures correctly, or have the time to keep up with changes to legislation, so it makes sense to get expert help on a specialist subject,” added Louise. “I use my knowledge and understanding of the general accounting
practices and the construction sector as a whole, to identify what expenditure in a business qualify for capital allowances. From there, I put forward the claim and negotiate with HMRC where necessary to get the best possible outcome for the client. For R&D Tax Credits, my role is to advise on whether or not the business has a claim, and then I get them in front of a Chartered Tax Advisor to help them compile a
claim that will stand up to scrutiny of HMRC. “This isn’t about tax avoidance, or creative accounting, it’s simply good housekeeping with some tax planning thrown in, which helps tax paying businesses take advantage of these government backed schemes to reduce their tax bills and save a lot of money.
More information is available from Barth Consulting on 07775 021365 or visit
www.barthconsulting.co.uk or contact Louise via LinkedIn
vww.linkedin.com/in/louise-barth-2a669411/
ALL THINGS BUSINESS
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