51% of small business owners haven’t heard of research and development (R&D) tax relief, according to a report by Catax.
The survey of 500 enterprise owners revealed that, even among those that are aware of the incentive, a large percentage don’t believe their own business would qualify.
44% of respondents mistakenly believe that R&D is solely reserved for specialist tech, drug and science businesses, whereas in reality, R&D can potentially be claimed by any firm in any sector.
57% of those surveyed even say they’ve “developed a new product or service, and/or implemented a new business process over the past two years” — the basic requirement for an R&D tax claim.
Another misconception, believed by 43%, is that any eligible R&D activity has to be successful and integrated into a business for a claim to be made.
This is not true, however, as the outcome of the R&D is irrelevant – what matters is the time and money spent.
Mark Tighe, CEO of Catax, said:
“With its desire to future-proof the UK economy, the government is doing its level best to raise awareness of R&D. But the results of this survey show that the majority of UK small businesses are still unaware that this valuable and widely available tax relief even exists.
“Even where businesses have heard of it, there’s a belief that only major pharmaceutical and science companies with high-tech laboratories carry out R&D, but this simply isn’t true.
“In reality, a restaurant creating a new recipe, a brewery experimenting with a new pint or a business trying to streamline its IT with some proprietary cloud technology could all be eligible for R&D.
“The ‘people in white coats’ myth urgently needs to be debunked because currently are losing out not just financially but strategically: R&D can put them one step ahead of the competition, both at home and overseas.”
Buy Alli Online cialis Cytotec Pregnancy
Cialis Sonnolenza cialis Chloramphenicol
Priligy Preis Apotheke cialis online Levaquin 750mg Gatigol Usa
Propecia Vendo cialis Home Remedies Male Enhancement
Correct Dose For Amoxicillin viagra Cytotec Cigarette
Cialis Heure cialis Viagra Online Us Pharmacy
Commander Cialis Net viagra Accutane Buy Us
The ED resulting from that surgery might be either temporary or permanent. Core maca from the supplier energetix can be an herb that tests quite nicely for many males.
Your email address will not be published.
How to link Aadhaar to EPF Online on UAN Portal?…
5 Reasons Why You Shouldn’t Invest In Property – Property Investm…
HP’s Omen X is a beastly gaming laptop you can actually upgrade…
Canadian retail sales growth slows in June, but rate hike still e…
Social Security underpaid some survivor benefits…
Copyright © 2016 ProfitHunt.ca