Business workshops, aimed at raising the profile of unclaimed tax reliefs, will be held in Fife next month.
‘R&D Tax Credits – What is it and how much is it worth?’ will be hosted by Fife Chamber of Commerce in association with EQ Accountants LLP.
The first event will be held at Fife Chamber of Commerce, John Smith Business Centre, 1 Begg Road, Kirkcaldy at 9.15am on Friday 9 June 2017. The one-hour workshop will be repeated at Express Holiday Inn, Dunfermline at 9.15am on Thursday 22 June 2017.
Ross Oliphant, Partner in EQ’s Glenrothes office will talk through Research and Development tax reliefs and explore the range of projects which could qualify.
Research and Development tax reliefs are a tax incentive from the UK Government designed to reward companies for investing in innovation.
Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for this valuable relief.
Managed by a specialist team of six, EQ have achieved £10m of tax savings for clients throughout Scotland during the last six years, including those working within food and drink, manufacturing, engineering, software development and design sectors.
Mr Oliphant, who specialises in corporate and personal taxation, undertook his examinations with the Association of Chartered Certified Accountants, qualifying 10 years ago, and became a member of the Chartered Institute of Taxation (CIOT) in 2013. His CIOT qualification is the Gold Standard in tax qualifications, allowing him to offer the highest level of expertise to clients in all aspects of tax planning.
He said: “The UK has several tax reliefs for research and development for all sizes of company. The reliefs are generous but the detail of what activities qualify, and who qualifies for which relief, can be difficult to determine. In addition, the tax reliefs are substantially under claimed, particularly at the SME level. This one hour workshop considers the main issues to bear in mind when looking at the possibility of claiming R&D reliefs.”
Alan Mitchell, chief Executive, Fife Chamber of Commerce added: “We are delighted to be working with EQ to deliver this event and with a number of our other member companies who have specific skills in the different aspects of business innovation. Fife has many innovative businesses and we hope that EQ and our other Fife Learn partners will help them to unlock their creativity to the fullest extent possible.”
For more information, or to register, visit www.fifechamber.co.uk/events.