Research tax relief advice

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MANY of the region’s businesses may be missing out on generous tax relief for carrying out research and development because they mistakenly think that claiming it is too onerous or that the work they are doing doesn’t qualify, a tax specialist said today.

Brian Gooch, tax manager at leading independent chartered accountants and business advice specialists Hawsons, of Glossop Road, Sheffield, said that the number of companies applying for relief is “very low”,

He continued: “It is often wrongly assumed that for activities to be regarded as research and development there needs to be employees – stereotypically men – in white coats in some form of laboratory.

“This is not the case and the scope of work for which tax relief may be available is much broader than that.”

Any businesses wanting more details, or help to claim the relief, should contact Brian at bjg@hawsons.co.uk or Stephen Charles at sac@hawsons.co.uk (tel: 0114 266 7141).