Catax help you uncover the biggest tax relief claim possible for you - resulting in more money in your pocket! Our specialist tax relief services cover R & D Tax Relief, Capital Allowances Tax Relief and Patent Box Tax Relief.
Many businesses are not making the most of the financial benefits available through these various tax reliefs and there can be a tendency to think that if you have claimed something that you have claimed all that is due to you. This is sometimes the case but, as in many spheres, specialists can often produce a different outcome than that achieved by generalists. We recently worked with a business which had submitted a claim for £1500 R & D Tax relief but we uncovered an additional £25 000 which their previous advisors were unaware of.
Our reputation has earned us some impressive partners and we have long standing relationships with The Law Society, ICAEW, and IFA.
You'd be surprised at what qualifies for R&D tax relief. It's not just about people in white coats by any means. Indeed, it's quite likely that your business is conducting qualifying R&D without even realising it R&D Tax legislation is complex but our highly experienced team of tax advisors will do all the hard work for you and look at every aspect of your business and identify all qualifying activity. Many businesses "take a stab" at what they consider to be R & D and present those opinions to their accountant for submission, but many of these companies are actually not including other activities and costs within their business which will qualify for R & D tax relief.
The tax relief available to SMEs on allowable R&D costs is 230%. This means that for every £100 of qualifying costs, your company could reduce your taxable profits by an additional £130 on top of the £100 spent. It definitely pays to allow consultants like Catax to work with you to uncover ALL of your qualifying R & D expenditure!
This is an overview of our approach to R & D Taxation:
Similarly, Capital Allowances tax relief is a way to claim tax back on all of the embedded items within your commercial property and this includes lighting, heating, cables and pipes. If you own commercial property and are a UK taxpayer then it's highly likely that are eligible for tax relief.
This is an overview of our approach to Capital Allowances in your business property:
We work on a 'No Claim, No Fee' basis and only charge a fee once the tax benefit had been identified and made available to our clients.
R&D tax relief
This is the government's way of rewarding campanies that are developing new, or improving existing products, processes, systems and materials. These developments can include software development, process development in engineering, innovative recipes in food or beverage preparation, new and improved processes in any industry and many more projects.
Our average client benefit is over £44 000 and in some cases the tax relief itself could represent as much as 20% ROI for the R&D project.
The complexity of R&D tax credits, coupled with constantly changing legislation and case law, mean that most companies undertaking R&D work are not making claims.
The majority of UK firms undertaking R&D are also unaware that R&D tax claims are restricted: claims can only go back two open tax years.
Our specialist R&D tax experts create a comprehensive report of the activity and project undertaken and ensure it is swiftly filed so our clients can receive their tax benefit as early as possible.
Crucially, we operate on a ‘No Win, No Fee’ basis and only charge a fee once the tax benefit has been identified and received by our clients.
Companies approaching their Year End Date should therefore seek advice to ensure no repayments or tax credits are missed.
If your company is making a profit on your patented inventions, you will be eligible for a lower effective corporation tax rate of 10% on your relevant profits. This will save your company money and allow you to invest in future innovation.
If you are eligible for the Patent Box tax relief, it is likely that you are also eligible for R&D tax relief. Our team of experts are here to help – just give us a call!
Identifying and valuing what does and doesn't qualify can be tricky as tax law is complicated and frequently changing. Our average client benefit is over £46,000 and we are highly experienced in uncovering all claimable items to secure you the biggest claim possible.
Our own in-house team of specialist surveyors will go through your property from top to bottom to identify qualifying elements, many of which will not have been specified on an invoice when the building was purchased or built. This capability means that we complement the activities of your accountants activities with their general accountancy skills because they probably won't have access to the specialist surveyors required to identify and value the qualifying features of your property.
Your dedicated case manager will look after the whole process right through until you receive your tax relief. All we need are a few simple details to commence the process then we'll take it from there and do all the hard work for you.
We're here looking for:
HMRCs own figures indicate that only a small proportion of eligible businesses are making claims for R&D and we want to raise awareness of this govenment tax incentive within the Business Cluster and ensure that you receive the appropriate tax benefit for your investment. We operate on a "No Claim no Fee basis"
We also would like to partner with Accountancy professionals to help you maximise your clients' R&D Tax benefits:
Client satisfaction is our primary focus and because we understand that each client is different, we treat each on a bespoke basis. By carrying out full due diligence prior to issuing our report, we can guarantee a positive conclusion for all parties every time.