Innovation Clinic: 3 ways to cut your Corporation Tax
CW and MPA invite you to our 1:1 innovation clinic, where you can spend 45 minutes with our experts, receiving advice on how your business could get the most from HMRC’s tax schemes. There are 5 time slots available throughout the day, just email Gabby to see the remaining available options and book your preferred time.
In this clinic you’ll learn where your innovation investment and activity could be supported by HMRC schemes and receive bespoke advice from MPA experts on how best to apply for these. If you are already benefitting from an HMRC scheme, come along to find out if you could be gaining more.
A number of schemes will be discussed, including:
- The Patent Box scheme, which allows companies to generate financial benefit from their existing IP protection, with Corporation Tax reduced to 10% on associated profit.
- R&D tax credits, which support companies who have taken a financial risk developing innovation in their products or processes, with a return of up to 33% of the investment made.
- R&D Capital Allowances (RDAs), which offer 100% tax relief in year 1 on most types of capital expenditure for R&D, uncapped unlike Annual Investment Allowance (AIA). They can release upfront cash into your business by reducing your Corporation Tax bill.
It’s important to note that some schemes do conflict, but thanks to MPA Group’s experience, their experts can advise businesses on how to receive their full entitlement in any situation.
If you are an innovative business beyond start up with a £2m+ turnover, then this clinic could benefit you.