Innovation Funding Services
From engineering and manufacturing to life sciences, automotive, construction and software, innovation can take place in any sector. Our partners have an in-house technical team of chartered tax advisers, accountants, and sector specialists use a consultative approach to unearth innovation sources and identify potential funding or tax relief that your business may qualify for.
Many businesses that claim back tax relief from the government use the money to reinvest in more R&D, purchase land, buildings, equipment, or take on more staff—all of which help to grow the economy.
Along with retrospective tax incentives, grants go towards funding future innovation and allow businesses and the economy to flourish.
Grant funding is available to any business that invests time and resources into innovative R&D, including opportunities in the UK and Europe. Catax’s aim is to secure your business with funding that fast-tracks and brings to market your innovative modern technologies, products, processes, or services. Our experts will identify all eligible grant funding opportunities and project manage the entire application process from start to finish to ensure you maximise your chance of being successful.
R&D tax relief
R&D tax relief schemes, such as HM Revenue and Customs (HMRC) in the UK, reward businesses that invest in innovation. To qualify, a company must be seeking a technological or scientific advance within its industry by developing or modifying a product, process, or service. This does not have to be a successful project, nor does it have to be a completed project. If a company has a qualifying product, service, or project, it may be able to reduce its next corporation tax bill or receive a tax refund.
The Patent Box
Patent box tax relief encourages companies to develop new patented inventions, which are licensed in the UK or certain European countries. The tax relief is effectively a discount on a company’s corporation tax rate and reduces it to 10% of relevant profits. Companies that can claim this relief are likely to be eligible for R&D tax relief too.
Capital allowances allow commercial property owners to claim tax relief on qualifying capital expenditure. Qualifying expenditures for a claim include “plant and machinery,” such as equipment, machinery, and business vehicles, as well as embedded capital allowances, which are items that are embedded with commercial property and considered to be part of the building.
Land remediation relief
Land remediation relief is a corporation tax relief claimable by the landowner of contaminated land or property. Introduced to encourage landowners to clean up and restore land on brownfield sites acquired from a third party in a contaminated state. The scheme applies to the landowner (either freehold or a leasehold) who can claim for the costs of remediating contaminated land.
Group Development Director
Catax – a Ryan Company
07719 535209 / Thomas.firstname.lastname@example.org