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4 very clear reasons why you should claim R&D tax relief and other super tax incentives:
you can claim tax relief of up to 230% of your R&D costs
accelerate your ability to bring to market innovative services and products
claim 130% of your investment in plant and machinery for tax relief purposes
take advantage of 100% tax relief on capital costs of up to £1m
It may surprise you that in the G20 Entrepreneurship Barometer, the UK is the best country in Europe for entrepreneurs.
Six million small businesses with fewer than 10 employees contributed £953 billion to the economy in 2021. Their success is, in part, down to the Government’s support for start-ups. The problem is, many business owners simply don’t know about the tax breaks available to them.
As proactive tax advisers, Sobell Rhodes can do all the exploratory work for you. We’ll identify which benefits you can claim, and there are a surprising number of opportunities for businesses to reduce their tax bills.
No costs, no obligations, no nonsense
For instance, you can claim R & D tax relief of up to 230% of your costs
If you are an SME with less than 500 staff and turnover under 100 million euros or a balance sheet total under 86 million euros, you can claim an extra 130% of qualifying costs from your yearly profit, as well as the normal 100% deduction, to make a total 230% deduction.
Do you qualify for AIA and other super tax deductions?
Up to 31st March 2023, this 100% tax relief has raised the capital costs ceiling of £200,000 up to £1,000,000.
Up to 31st March 2023 there is now a super tax deduction of 130% of the amount your business invests in plant and machinery. The Government considers this is the most attractive tax incentive ever offered.
Or perhaps you have been granted a Patent? If so, you could apply for Patent Box tax relief.
At Sobell Rhodes, we spend time getting to know our clients. Those initial conversations allow us to identify those parts of your business where savings can be made.
In fact, we mandate that the tax savings we secure for you will always be more than our fees, so you can’t lose!
Our services cover:
Business Asset Disposal Relief
This used to be called Entrepreneur’s Relief and is an allowance that lets you sell some of or all your business and pay just 10% Capital Gains Tax rather than the higher rate of 20%.
Creative Industries Relief
Directors’ Remuneration
Loss Relief
These have been difficult times for many businesses. If you have suffered losses, it may well be that these can be offset against the other gains and profits you have made.
No costs, no obligations, no nonsense