The services of a good tax advisor North Wales will give your business an advantage over the pack by making sure that every benefit which is allowed to it can be utilised – and if anything, a tax advisor could save your business thousands of pounds on a yearly basis. A recent survey by SME Magazine has shown that most business owners are not taking advantage of certain benefits their businesses are afforded, which means that they are quite literally turning money down.
Tax Relief is hardly a subject which strikes most as being exciting or even interesting, but it can – and does – help your business to claim absolutely every benefit which is available to it.
Shockingly, most small to medium businesses are not claiming Research and Development Tax Relief, which is allocated to businesses of any size which spend time and money developing new products, processes or services.
You might think that the term research and development is limited onto to the fields of science, military operations, or other industries and not applicable to your business whatsoever, but absolutely nothing could be further from the truth.
Even if you’re the smallest of businesses that has branched out into a new direction – be it selling a different product or even adding to your range, you are applicable for research and development tax relief.
Your tax advisor North Wales will do all the hard work, fill out all the forms and filter through the technical jargon that makes claiming any form of relief so arduous, leaving you to benefit from the amount allocated to your business.
And why wouldn’t you take any advantage that you can? HMRC certainly quibble over every penny which is owed to them, so you should do the same.
Times have never been harder, and with the financial prospects of the UK looking, admittedly, rather bleak – it truly is surprising to consider that most eligible small to medium businesses across North Wales and the UK at large are not claiming tax relief which is rightfully theirs.