Businesses in Lancashire are being encouraged to learn more about Research and Development (R&D) corporation tax benefits, which could save them money.
The UK Government offer a tax incentive to encourage more UK businesses to engage with R&D to help position the UK as a centre of technical excellence and preserve jobs.
Regenerate Pennine Lancashire are urging local businesses to investigate the tax benefits and new Patent box legislation, both of which could save thousands of pounds. They are running a free Lancashire Innovation Network workshop in Chorley with Pierce Chartered Accountants to help businesses cut through complex jargon so they can take full advantage of R&D corporation tax incentives.
Steve Hoyle, Managing Director of Regenerate said:
“If you understand how corporation R&D Tax Credits work, you might recognise ways your business can make real savings. If your business is improving its overall knowledge in science or technology, your limited company could be eligible for R&D corporation tax benefits. ”
“With effect from April 2013, the Patent box legislation will go further as an incentive for companies to protect their innovations. It will provide the opportunity for generous reductions in the corporation tax rate for relevant income derived from UK and European registered patents.”
This relief is not purely for high tech and laboratory based companies, successful claims continue to be made in a variety of sectors.
The event takes place at the Woodlands Centre in Chorley on November 22nd. To register, visitgrowthlancs.wpengine.com
The Lancashire Innovation Network is supported by the European Regional Development Fund.
