The UK has always been at the forefront of global innovation. In the upheaval of the global pandemic, utilising unclaimed and readily available tax relief is an effective way to get a cash injection into your business without incurring debt. Several tax relief schemes are already in place, with HMRC continuing to drive through claims during the pandemic. Here at Catax, we offer 4 tax relief services which could mean the difference of over £62,000 to your bottom line and have associated cash flow benefits.
Research & Development (R&D) Tax Relief
Research & Development (R&D) tax relief was a major highlight of the budget announcements on March 11th 2020, with the Chancellor releasing plans to increase public R&D investment to £22bn per year by 2024-25. For qualifying companies, this tax relief is money claimed back for work that has already been done, money already spent. We find our Research & Development clients receive an average claim of £62,000, which could be a lifeline in the coming months. Some examples of activities that would be eligible include:-
- Development and implementation of new software programs
• Development of tools and processes to improve efficiency
• Creation of new materials
• Developing new and job specific methods of safe working procedures
The Patent Box (PB) Tax Relief
The Patent Box tax relief is an effective reduction to a Corporation Tax liability for profitable companies exploiting patents; this can be for your own or licenced patents.
Embedded Capital Allowances (ECA) Tax Relief
Owners of commercial property who have invested in renovations to their buildings can apply for Embedded Capital Allowances tax relief.
This relief considers expenditure not only from construction work but from fixed internal fittings, wiring, plumbing, security, and communications
installations, to name a few. In most cases, Catax can claim for not only recent changes to a structure but also for historical embedded Capital
Allowances going back to the purchase of a property. On average, our Capital Allowances clients benefit from £52,000 going back into their organisation.
Remediation of Contaminated Land (RoCL) Tax Relief
Remediation of Contaminated Land tax relief offers additional relief for money spent by companies removing harmful contaminants from land and buildings.
Catax can help uncover hidden value during these trying times, working together to get businesses ahead of the upcoming financial strain. We have claimed over a quarter of a billion pounds to date for our clients, and are working with our community and partners to ensure all businesses affected have the tools and cash flow they need to sustain their business. Catax are an industry-leading tax consultancy who specialise in these forms of tax relief, employing over 100 members of staff across the UK, Catax guarantee to maximise the claim made on your behalf.
JTS Ltd – “I found Catax to be professional, great communicators and very patient. Without their involvement we would be missing out on thousands of pounds of available tax relief.”
Contact us today to find out if you have a claim:-
Email Address:- ian.patrick@catax.com
Telephone Number:- 0330 223 1257
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