Press Releases
Tax Relief Boost for Small Businesses
Bradford based chartered accountants and business advisors, Watson Buckle, are encouraging entrepreneurs to take advantage of a boost to a tax credit system. The government has announced an increase in the tax relief rates for innovative investors in research and development.
Eligible companies are those who employ up to 500 people, twice the previous limit of 250 people. The associated limits on balance sheet value and turnover have also doubled. The new rate, which took effect on 1st August 2008 is 175% of the investment into research and development. The previous rate was 150%.
Managing partner Chris Padgett comments: “It is worth considering investment into research and development, as this new tax credit boost equates to an extra £80 million for SMEs to access.”
For more information, contact Watson Buckle on 01274 516700.