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Tax breaks can help business cashflow

Patent Box, R & D Credits and Capital Allowances workshops held at the Solent Hotel in Fareham, Hampshire and Dudsbury Golf Course, in Dorset helps attendees think ‘Inside the box’.

Fareham in Hampshire and Poole in Dorset based Cashflow, Business Recovery and Insolvency experts, Portland Business Support and Advice, recently held two breakfast workshops, which were very well attended by professional business contacts, including practising accountants, lawyers, and business owners across a wide range of businesses spanning a number of industries.

The workshops, with expert speakers from Rift Group and Mathys & Squire LLP, discussed how the Patent Box initiative is working in practice and how the tax system encourages and rewards R&D investment. The presentations also covered the very recent important changes to the property Capital Allowances regime.

The full programme compromised of:

  • R & D Credits - Background, what qualifies, what professionals should look for and the value to an SME
  • Patent Box - Background to the legislation and the 10% corporation tax rate
  • Patent Box and Patents - The Patent Attorney perspective and insights into what qualifies for patentability
  • Capital Allowances on Commercial Buildings - An overview and change to the legislation


The presentations were chaired by Portland Directors James Tickell and Mike Fortune, and comprised of 3 expert speakers:

  • John McKeown - Director at RIFT Group Ltd and specialises in tax reclaims for SMEs under the R&D Tax Credit legislation. He has been involved with Patent Box since its inception. (www.riftresearch.com
  • Ben Wyatt - consultant in the field of Intellectual Property, at Patent and Trademark attorneys Mathys & Squire LLP. (www.mathys-squire.com)
  • Charles Ellis - leads the Capital Allowances division at Rift having specialised in capital allowances for over 12 years. (www.riftresearch.com


Carl Faulds, Managing director of Portland said;
“The overall response to both presentations was very positive, with all delegates appearing to see the value in attending and learning more about important topics, which are clearly relevant to modern businesses. Although the subjects were not directly connected to our core business, we do advise a wide range of businesses at different stages and we feel that to be able to provide the best advice, it is vitally important to keep up to date with current business issues and have a wide range of knowledge”.

John McKeown, Director at RIFT Group commented;
"It was good to talk to the professional audience at the two Portland events. R & D Tax Credits, Patent Box and Capital Allowances are currently hot topics of conversation. The rule changes that have just come into affect are worth vast sums of money to clients and we at RIFT happen to be at the forefront of advice in these areas. It is the "missed" claims and under estimation of the financial value of these HMRC concessions that never cease to amaze us. So it was good to have excellent audiences that were so responsive to the message."

YOU CAN DOWNLOAD A COPY OF THE BRIEFING DOCUMENT BY CLICKING HERE

If you would like to further discuss any of these topics, or need advice on any business matters relating to Cashflow, including Company voluntary arrangements (CVA), emergency loans, creditor negotiations or Business Recovery which includes, prepacks, administration and liquidations,  please contact either:
 

James Tickell (Hampshire office)
01489 550454 / 07710 157951
james.tickell@portbfs.co.uk

                             

Mike Fortune (Dorset office)
07977 987788 / 01202 712810
mike.fortune@portbfs.co.uk

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