Whether you are a racing fan or not, the colourful spectacle of runners, riders and fashionably (and often fantastically!) attired spectators make Royal Ascot a pleasant distraction from the relentless party leadership contest news coverage of recent weeks.
Of course, both of these events are all about picking winners, but however much you study the form, it’s not easy to predict who will make it over the finishing line first.
Fortunately, there are some aspects of life where there is more certainty – and when you choose Afford Bond as your accountants, you are effectively getting a whole stable full of winners.
As well as general accountancy and taxation expertise, we have a host of other specialisms to make sure you are maximising the potential of your hard-earned cash. Among these is our expertise in Capital Allowances, our know-how around Succession Planning issues and our in-depth knowledge of matters around Research and Development (R&D) Tax Credits.
Many people tend to dismiss the latter, thinking R&D Credits relate only to businesses with boffins in white coats working in laboratories – but the provisions are actually much wider and many businesses are funding R&D activity without realising they could get a tax break for it.
For example, recycling is an activity that can be covered under this provision: if you are looking to find ways of recycling waste materials generated by your business rather than sending them to landfill, the wage bills of the staff working on the project could form the basis of a claim. And of course, there are more obvious elements too – new buildings, plant or technology purchased to support business expansion or to install sustainable energy can also attract R&D credits.
Information Technology is also a big ticket area for these credits – you could, for example, re-coup the development costs for investing in eCommerce websites and the data processing behind them to enable you to sell goods and services online. Upgrading an existing website could also qualify in some circumstances.
So, whatever you’re doing to grow or develop your business, why not find out if there are some untapped tax rebates available to you? For a no obligation chat, call our ‘favourite’ taxation expert Paul Edwards at Cheshire accountants Afford Bond – the firm that’s decidedly NOT a one trick pony! Or use the Contact Us form on our website, and we’ll get in touch.