Blogs & News > RADIUS - R&D Tax Relief & Patent Box
Scott Burkinshaw - 29 February 2016
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In recent years, the Government has continued to enhance tax breaks for innovation, such as Research & Development (R&D) and Patent Box Tax Reliefs, specifically aimed at providing companies with tax incentives to innovate. Many local innovative businesses are not claiming or are under-claiming these reliefs and are therefore paying too much tax.
That is why we created the ITG to build on our track record of specialising in advising innovative businesses on R&D and Patent Box Tax Reliefs and to ensure that local businesses claim their full entitlement to these Government backed tax reliefs.
R&D Tax Reliefs give tax savings of £26 for every £100 spent on innovation by profitable companies as well as cash payments for those making losses. Patent Box Tax Relief allows profits arising from patented items to be taxed at an effective corporate tax rate of only 10%.
I am Head of Business Taxes at Shorts, where I lead our specialist Radius team focusing on R&D tax relief. As a Chartered Tax Adviser with over a decade of experience at national and international firms, I work with businesses and their owners to provide strategic corporate and personal tax advice. My expertise includes R&D tax relief, business disposals and acquisitions, and long-term tax planning, helping clients achieve their goals in the most efficient way.
View my articlesWritten especially for entrepreneurs and owner-managed businesses, this guide is full of planning ideas and tax risks to avoid.
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