Welcome to the latest newsletter from the Shorts Innovation Taxes Group (ITG) containing current and topical ITG news items that we hope may be of interest.
Click here to view the Shorts ITG Newsletter in full
The Government continues to promote 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. The ITG exists to ensure that local businesses claim their full entitlement to these Government backed tax reliefs.
Issues covered in this edition include:
- How people are often unaware of support for innovative businesses.
- R&D claims for software development.
- How large companies can benefit from claiming R&D Expenditure Credit.
- How companies can claim tax relief for overseas R&D.
- Tax reliefs for creative industries.
If there is anything contained in the newsletter you would like to discuss in more detail then please do not hesitate to contact a member of the ITG.