MANY businesses could be missing out on unclaimed tax reliefs, according to Armstrong Watson, accountants and business advisers.
It believes that, due to the complex nature of corporation tax, many business owners are unaware of the range of reliefs available, or are unsure if the work they carry out could be eligible for tax relief.
One of the company's clients working in the service industry sector recently received a substantial rebate after claiming for research and development tax relief. They were working on a new project which involved bespoke software being written specifically for it.
Even though some of the development costs were provided by sub-contractors, this was eligible for tax relief and after discussion with the HMRC, a successful claim was made which resulted in a substantial saving for the business.
Now Armstrong Watson has appointed David Kitson as tax partner at its Skipton office to help businesses with the complex issue. He has more than 20 years’ experience in advising businesses on taxation and financial matters, specialising in unclaimed tax reliefs for both the business and the owner.
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