Friday, May 25, 2012

rotherham business news: News: Relief for Rotherham manufacturers

A free seminar is taking place in Rotherham next week to help local manufacturers take up tax relief in the form of tax credits for companies involved in research and development.

The Government is committed to increasing R&D tax relief for SMEs to 225% of qualifying expenditure from April 2012 and 130% relief is available for larger companies.

Experts in audit, tax, and corporate finance, Deloitte has joined together with the Advanced Manufacturing Park (AMP) to provide a free seminar at the AMP Technology Centre in Rotherham on the morning of May 30.

The event includes an overview of the R&D tax credits scheme and its application to manufacturers, highlighting HMRC?s current thinking in this area, the pitfalls that may trip up claimants and exploring the proposed modifications likely to be introduced under the 2013 Finance Bill.

Optimising R&D tax rate relief claims within the manufacturing sector often means looking at activities undertaken beyond any core technical team. The Deloitte R&D tax services team has assisted in the preparation and agreement of thousands of R&D claims, many of which include costs associated with R&D carried out in the manufacturing / production environment. The Deloitte team will explain some of their experiences in this area during the event.

Following the seminar, Deloitte will host a drop-in clinic for attendees, allowing company representatives to share details of potential projects in an initial free 30min consultation, and make initial assessment on the viability of making a claim.

Deloitte website

AMP website

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