Our well-rounded, award-winning business and financial services are designed to help our clients build strong foundations, alleviate day-to-day pressure, survive times of unrest, grab opportunities, and ultimately help our clients achieve their version of success.
As the need for more efficient, intelligent and environmentally-friendly products and services increases, the UK is quickly becoming a thriving hub for innovative businesses across a wide range of industries.
In a rapidly evolving market such as this, research and development should play a pivotal part in every business, including their tax strategy, which is why it’s important to seek tax relief or cash back where appropriate.
R&D is a large part of creating wealth within the corporate world, to rebate and re-invest.
TCS’s astute advisors employ their business and financial knowledge to help their clients navigate and stay within the lines of corporation tax relief while utilising it to its full potential.
R&D Tax Relief currently allows businesses to claim up to 24.7% of their expenditure as a tax refund or reduced tax liability for profitable SMEs and up to 33.3% of their expenditure as a cash repayment for loss-making SMEs.
Introduced in 2000 to increase innovation and create wealth in the UK through R&D.
Enables companies that incur costs in developing new – or improving existing – products, processes or services to receive a cash payment and/or tax deduction.
Works through the Corporation Tax System and has been continually improved since it was introduced.
The scope for qualifying activities and costs is enormous, and our team are experts in identifying them to allow our clients to innovate and grow without restriction.
Land Remediation Relief is a relief from corporation tax only. It provides a deduction of 100%, plus an additional deduction of 50%, for qualifying expenditure incurred by companies in cleaning up land acquired from a third party in a contaminated state. Land or buildings are in a contaminated state if there is contamination present as a result of industrial activity such that:
Land or buildings are in a contaminated state if there is contamination present as a result of industrial activity such that:
– it is causing relevant harm; or
– there is a serious possibility that it could cause relevant harm, or
– it is causing, or there is a serious possibility that it could cause, significant pollution in the groundwater, streams, rivers or coastal waters
Corporation Tax to profits earned from its patented inventions. A patent box is a special very low corporate tax regime used by several countries to incentivise research and development by taxing patent revenues differently from other commercial revenues. It is also known as intellectual property box regime, innovation box or IP box. Companies who take this route could enjoy a 10% deduction on their Corporate Tax bill, if it exploits patented inventions and innovations.
What is an EOT?
Key tax benefits
If key qualifying conditions are met, the following tax benefits are available:
Tungsten Corporate Service’s top priority is maximising the benefits to our clients through corporation tax relief, utilising our exemplary tax and business knowledge to add value at every opportunity.
To find out more about this service or to discuss your specific needs with a certified TCS advisor, please contact us here.
Businesses of all sizes face many challenges, which is why our well-rounded, award-winning business and financial services are designed to help our clients build strong foundations, alleviate day-to-day pressure, survive times of unrest, grab opportunities, and ultimately help our clients achieve their version of success.