New ACAD Member Catax: Overview of Services
The UK has always been at the forefront of global innovation. In the upheaval of the global pandemic, utilising unclaimed and readily available tax relief could be an effective way to get a cash injection into your business. Several tax relief schemes are already in place, with HMRC continuing to drive through claims during the pandemic.
Catax are an industry-leading tax consultancy who specialise in these forms of tax relief, employing over 100 members of staff across the UK offer. Catax offers 4 tax relief services which we explore here and will be expanded upon during the ACAD/Catax webinar on 9th September, register now via training@acad.uk.com.
Remediation of Contaminated Land (RoCL) Tax Relief
Remediation of Contaminated Land tax relief offers additional relief for money spent by companies removing harmful contaminants from land and buildings. Catax have claimed over a quarter of a billion pounds to date for their clients via this route alone.
Embedded Capital Allowances (ECA) Tax Relief
Owners of commercial property who have invested in renovations to their buildings can apply for Embedded Capital Allowances tax relief.
This relief considers expenditure not only from construction work but from fixed internal fittings, wiring, plumbing, security, and communications installations, to name a few. In most cases, Catax can claim for not only recent changes to a structure but also for historical embedded Capital Allowances going back to the purchase of a property.
Research & Development (R&D) Tax Relief
Research & Development (R&D) tax relief was a major highlight of the budget announcements on March 11th 2020, with the Chancellor releasing plans to increase public R&D investment to £22bn per year by 2024-25. For qualifying companies, this tax relief is money claimed back for work that has already been done, money already spent.
The Patent Box (PB) Tax Relief
The Patent Box tax relief is an effective reduction to a Corporation Tax liability for profitable companies exploiting patents; this can be for your own or licensed patents.
To find out more register on the ACAD/Catax webinar on Wednesday 9th September by dropping us a line at training@acad.uk.com.
