Blogs & News > RADIUS - R&D Tax Relief & Patent Box
Scott Burkinshaw - 29 February 2016
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%.
Scott is Tax Partner at Shorts, specialising in providing strategic corporate and personal tax advice.
View my articlesWritten especially for entrepreneurs and owner-managed businesses, this guide is full of planning ideas and tax risks to avoid.
2 Ashgate Road,
Chesterfield,
S40 4AA
T: 01246 559955
F: 01246 209484
2 Cedar House,
63 Napier Street,
S11 8HA (S11 8HN for SatNat users)
T: 0114 2671617
Copyright 2018 Shorts Chartered Accountants. All Rights Reserved. Shorts Data Protection Policy. Shorts Privacy Policy. Shorts Payroll Bureau Service Privacy Policy. Shorts Financial Services Privacy Policy. ICO Cookies Policy.
Shorts Financial Services LLP is authorised and regulated by the Financial Conduct Authority. Registered office: 2 Ashgate Road, Chesterfield, Derbyshire, S40 4AA. Shorts is a trading name of Shorts Financial Services LLP. Company number OC307023. Shorts Financial Services LLP is a Limited Liability Partnership. The Financial Conduct Authority does not regulate taxation advice, some forms of auto enrolment, commercial finance advice, will writing and trust advice. Levels and bases of, and relief from taxation are subject to change and their value depends on the individual circumstances of the investor. If you wish to register a complaint, please write to us at the address above in the first instance. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS). You can find out how by visiting www.financial-ombudsman.org.uk, or by calling 0800 023 4567.
Where your complaint relates to products or services purchased online, or by other electronic means such as by email, you may refer your complaint to the online dispute resolution (ODR) platform at http://ec.europa.eu/odr.
