Educate your team by downloading each article in our CSR series and printing them out for your noticeboard: brws.it/taxandgrants
Credit where credit’s due HOW TAX REBATES AND GRANTS CAn MAKE IT SYSTEMS, MENU DEVELOPMENT and RENOVATIONS AFFORDAbLE You could be eligible to claim back thousands in tax rebates. These generally apply to businesses making changes to their processes, systems or devices. We spoke to Jon Lee of PBS whose business specialises in helping SMEs unlock the tax rebates that are rightfully theirs. Four years and more than £14 million in rebates later, Jon is determined to help as many businesses as possible to benefit from these ‘hidden’ rebates. “Ten years ago, hardly anyone was making these claims,” Jon says. “Even today, close to 90% of eligible companies aren’t claiming. On average, we’re seeing claims for our clients of around £57k. That’s money they didn’t know they had owing to them. In the present climate, it can be the difference between survival or going under.”
What’s right for your business? Take a look at our introductory guide to see if you could claim. It’s a useful starting point but, as ever, it’s always best to speak to an expert to get the full picture.
INNOVATION “Most people think that research and development is for scientists,” Jon says, “but if you’re spending money on any new systems, processes, products or devices it’s essential you log how much time and money you spend on it. Over the next five years you’re going to have to innovate to survive, so make sure you claim what you’re entitled to.”
£25 You can claim £25 in every £100 you spend for qualifying expenditure
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