How IT Development Can Reduce Your Tax Liability
The importance of this part of fundamental business growth cannot be understated. Countless numbers of businesses want to invest and give information technology an edge to their business.
Learning how to stay one step ahead of your competitors in growth acceleration and cash flow will clearly gain a market-leading advantage. In terms of product and process development, this comes with a high price tag and if the service your business offers is an area that your client base may want to upgrade over time, then your cutting-edge technology will need to have a sharp business benefit to match the cost outlay.
With the correct advice, it is possible to demonstrate how businesses across all sectors can reduce their tax liability and identify areas that are often overlooked for R&D tax credits /rebates. At the same time, the IT development that one business may promote to another often qualifies under the R&D rules.
One of our clients developed software for themselves as well as their clients, they received over £25,000 back from HMRC for themselves and referred 3 of their clients and received referral commissions totally £2,800, it’s a win/win for everyone.
Imagine helping to facilitate a tax rebate for a client and reduce their tax liabilities going forward?
Imagine how much extra business that client may be open to in the future?
Clearly each scenario would need to be discussed on a case by case basis, but in principle, if the adaptations made in IT to improve an existing pro
duct, service or process have carried some uncertainty and probably financial risk, then this is much of the qualifying criteria covered for a research and development tax rebate right there!
Future-proof your business with specialist advice
The impact on business growth cannot be understated and with the added advantage of being able to enjoy a supportive aftersales service in the form of a workshop – will mean that further investment in future years as a result of a successful R&D claim will bring stability and the kind of specialist guidance that one might expect to have to pay for ordinarily.
Contact us today to see how we can reduce your corporate tax liability.
Contact Beverley Hopper via email info@crederesolutions.co.uk or via 0800 612 9064
Or alternatively contact Rehan via email – rehan.burger@bbxworld.com or via 01604346677
