The monthly subscriber spotlight is an opportunity to learn more about a company from one of our subscribers and showcase the work they are doing.
This month we spotlight on Catax
Experts in Research & Development, Capital Allowances and the Patent Box tax reliefs
Catax are experts in specialist areas of tax relief, including Capital Allowances, Research & Development and the Patent Box.
They have been helping clients secure tax relief for over 10 years and have identified over £191m in tax benefit for their clients to date. Headquartered in Manchester, with offices in London, Glasgow, Edinburgh and the Channel Islands, they work with businesses throughout the UK.
They have a team of over 90 in-house experts which includes Surveyors, Tax Technicians, Accountants, Report Writers and Technical Account Managers who work to ensure your business is rewarded the highest claim possible.
They break down the claims process for you, so all you need to do is provide them with some details, and they’ll take care of the rest. There are no complicated forms to fill out, no legal language to unpick and no tax law to get your head around.
Catax are trusted partners with many of the UK’s top accountants and solicitors, and have excellent relationships with the Law Society, ICAEW, IFA and CIMA amongst other industry bodies. So far they’ve helped over 13,000 clients claim their money back from HMRC.
Research & Development:
Research & Development (R&D) tax relief was introduced by the government to reward companies who are investing in innovation. This innovation can be in the form of developing new systems, processes, products, materials, devices, or any changes to the way your business works.
Whether the project was successful or not, if your company is investing in R&D, there is every chance that you will be eligible to claim.
Catax’s average claim amount for R&D tax relief is in excess of £49,000!
Capital Allowances tax relief offsets the hidden expenditure in your commercial property. Typically, this includes elements such as air conditioning, wiring, heating, lighting and security systems – essentially everything that would remain in the building if you tipped it upside down!
All commercial property owners who are UK taxpayers may be eligible to claim Capital Allowances tax relief. Your eligibility depends on several criteria, and assessing this is complicated; however, Catax can take this stress off your hands. Their average Capital Allowances claim is £47,000.
The Patent Box
Similarly to R&D, the Patent Box tax relief was introduced in order to reward companies investing in innovation. The aim is to encourage the development of new patented inventions in the UK. If your company is making a profit on your patented inventions, you will be eligible for a lower effective corporation tax rate of 10% on your relevant profits. This will save your company money and allow you to invest in future innovation. The average Catax claim for the Patent Box is £49,000.