 |
|
 |
FREE Business banking forever With Abbey you can enjoy free day-to-day business banking, forever! Call us now on 0800 085 3099 or click here to find out how. |
Small businesses urged to claim R&D tax credits |   |
HM Revenue & Customs (HMRC) is trying to make it easier for small businesses to apply for Research and Development (R&D) tax credits by setting up seven specialist units around the country.
The new units are based in Cambridge, Croydon, Leicester, Maidstone, Manchester, Southampton, Cardiff (covering Wales, Scotland and Northern Ireland) and will deal with all R&D tax credit claims from small and medium enterprises.
HMRC hopes the new units will improve the handling of claims and also raise awareness of the R&D tax credit scheme among small businesses. A recent HMRC survey showed that businesses with fewer than 10 employees were less likely to have a good understanding of the scheme or to have claimed.
The aim of the tax credits is to encourage greater R&D spending in order to promote investment in innovation. Between April 2000 and April 2006 around 22,000 claims for R&D tax credits were made with almost £1.8 billion of support claimed according to HMRC figures.
Research and development tax credits are a company tax relief which can either reduce a company’s tax bill or, for some small or medium sized companies, provide a cash sum. The R&D tax credit works by allowing companies to deduct up to 150% of qualifying expenditure on R&D activities when calculating their profit for tax purposes.
From 1 November 2006, agents or companies with specific questions about making R&D claims under the new set-up are encouraged to contact the appropriate specialist unit for advice. Contact details for the new Research and development tax credit units are as follows:
Cambridge R&D Unit
Eastbrook
Shaftsbury Road
Cambridge
CB2 2DJ
Telephone 01223 442534
Croydon R&D Unit
Southern House
Wellesley Grove
Croydon
Surrey
CR9 1WW
Telephone 0208 633 4307
Leicester R&D Unit
Saxon House
1 Causeway Lane
Leicester
LE1 4AA
Telephone 0116 2535400
Maidstone R&D Unit
Medvale House
Mote Road
Maidstone
Kent
M15 6AE
Telephone 01622 760403
Manchester R&D Unit
6th floor
Albert Bridge House
1 Bridge Street
Manchester
M60 9AF
Telephone 0161 288 6118
Southampton R&D Unit
8th Floor
Queens Keep
1 to 4 Cumberland Place
Southampton
Hampshire
SO15 2UN
Telephone 02380 204253
Cardiff R&D Unit (Wales, Scotland and Northern Ireland)
14 West, Phase 2
Ty Glas
Llanishen
Cardiff
CF14 5FP
Telephone 029 2032 7003/7026
List of postcodes covered by each office
From 1 November 2006, companies whose main R&D activities are located in one of the following postcodes should send their corporation tax returns containing R&D tax credit or relief claims to the appropriate office listed below.
AB Cardiff
AL Cambridge
B Leicester
BA Cardiff
BB Manchester
BD Manchester
BH Southampton
BL Manchester
BN Maidstone
BR Croydon
BS Cardiff
BT Cardiff
CA Manchester
CB Cambridge
CF Cardiff
CH Manchester
CM Maidstone
CO Maidstone
CR Croydon
CT Maidstone
CV Leicester
CW Manchester
DA Maidstone
DD Cardiff
DE Leicester
DG Cardiff
DH Manchester
DL Manchester
DN Leicester
DT Southampton
DY Leicester
E Maidstone
EC Maidstone
EH Cardiff
EN Cambridge
EX Cardiff
FK Cardiff
FY Manchester
G Cardiff
GL Cardiff
GU Southampton
HA Cambridge
HD Manchester
HG Manchester
HP Croydon
HR Cardiff
HS Cardiff
HU Leicester
HX Manchester
IG Cambridge
IP Cambridge
IV Cardiff
KA Cardiff
KT Croydon
KW Cardiff
KY Cardiff
L Manchester
LA Manchester
LD Cardiff
LE Leicester
LL Cardiff
LN Cambridge
LS Manchester
LU Cambridge
M Manchester
ME Maidstone
MK Cambridge
ML Cardiff
N Cambridge
NE Manchester
NG Leicester
NN Cambridge
NP Cardiff
NR Cambridge
NW Croydon
OL Manchester
OX Southampton
PA Cardiff
PE Cambridge
PH Cardiff
PL Cardiff
PO Southampton
PR Manchester
RG Southampton
RH Maidstone
RM Maidstone
S Leicester
SA Cardiff
SE Maidstone
SG Cambridge
SK Manchester
SL Croydon
SM Croydon
SN Southampton
SO Southampton
SP Southampton
SR Manchester
SS Maidstone
ST Leicester
SW Croydon
SY Cardiff
TA Cardiff
TD Cardiff
TF Leicester
TN Maidstone
TQ Cardiff
TR Cardiff
TS Manchester
TW Croydon
UB Croydon
W Croydon
WA Manchester
WC Cardiff
WD Cambridge
WF Manchester
WN Manchester
WR Cardiff
WS Leicester
WV Leicester
YO Leicester
ZE Cardiff
Companies in Wales, Scotland or Northern Ireland that are not in the four categories above should send their claims to the Cardiff unit.
Posted November 10, 2006
- Free day-to-day business banking, forever! Call Abbey on 0800 085 3099
- For 2 Years Free Banking, try Alliance and Leicester
- Find an insurance policy perfectly tailored to your business needs with Insurantz
- Company Reports - Credit Check your clients!
[November 11, 2008] Providing certain criteria are met, the company Christmas party can be exempt from tax. Here are the rules, laid down by HMRC, that you need to comply with to ensure your festive celebration qualifies for the tax exemption
[October 30, 2008] Our summary of some of the key HMRC forms companies will get to know after setting up a new business. Including Forms P45, P60, P11D, P35 and Self Assessment.
[October 15, 2008] Entrepreneurs banking on the concessionary 10% capital gains tax rate on business sale proceeds need to plan carefully and think well ahead, company owners have been told.
[September 11, 2008] A tax advisory firm is warning employers to prepare for confusion after the new personal allowance figures came into force on Septmber 7th.
[August 29, 2008] UK taxpayers haven't much time left to submit their responses to HMRC's proposals for harsher penalties to late filing of tax returns and late payment of taxes, warns a leading accountancy firm.
[August 4, 2008] The Fixed Profit Mileage Scheme rates remain unchanged since 2002 - are you better off having a company car, or using your own vehicle? This guide should help you find out.
[July 17, 2008] Small businesses, and the individuals who run them, are subject to a wide array of taxes - from Corporation Tax to National Insurance. This is an overview of the main taxes you will encounter as a small business owner, together with links to our in-depth guides.
[July 14, 2008] A leading freelancer organisation has called for an independent review of business tax in the UK following many years of instability in the tax system.
[July 4, 2008] The Finance Act 2008 has given HMRC new powers - including new penalties for providing incorrect accounting information. HMRC will have new powers to investigate tax returns and even access to the data stored on computers.
[June 11, 2008] Many UK taxpayers have purchased overseas property using a company. The Finance Bill 2008 includes measures that exempt most of these owners from a potential benefit in kind charge for their private use of such properties.
[May 21, 2008] National Insurance guide for self employed people and limited company directors. Includes overview of the NIC classes, and current rates.
[May 2, 2008] Tax experts are predicting that business rate changes on empty properties could severely affect small companies. The changes have effectively abolished financial relief paid to owners of empty commercial and industrial premises.
[April 22, 2008] The FPB has called on MPs to place the issue of small companies' corporation tax hikes alongside the Government's decision to axe the 10% starting rate for personal income tax.
[April 21, 2008] You can receive cash incentives by filing some tax documents online. There are also other benefits to filing VAT, Corporation Tax and your Annual Return via the web.
[March 31, 2008] A leading accountancy firm has urged small business owners to ensure they are making the most of available tax allowances prior to the end of the tax year on 5th April.
| Our Partners |
|
Hiscox Office Insurance Instant Online Quotation |
|
Compare Quotes Business Insurance Cover |
|
Form a Limited Company Complete Online Service |
| Business Insurance Get Essential Cover |
| 2 Years FREE Banking Alliance & Leicester |
|
Free Day-to-Day Banking Abbey - 0800 085 3099 |
|
New Client Worries? Online Company Checking |
|
Public Liability Cover Are You Insured? |
| Key Services |
|
Fixed Fee Accounting Award winning service |
|
£20 Free Postage & 30 Day No Ties Trial |
|
Virtual Office Service For full details click here. |
| Cashflow Problems? Try Invoice Financing |
|
Phone and Broadband Great deals for business |
Funding Services
|
| Business Insurance Read our key insurance guides - from Public Liability to Professional Indemnity, click here |
For Business Insurance, visit our partner, Hiscox.
HfM - Small Business Accountants - Click here!
Compare insurance cover deals at Simply Business.
Company Information - Credit check companies and people online now!
Business Plans :: Start A Business :: IR35 :: Business News :: Sole Trader :: Company Formation :: Public Liability Insurance :: Start Up Guide
Professional Indemnity Insurance :: Business Bank Accounts :: Limited Company :: Business Insurance :: IT Contractors :: Tax Rates :: VAT :: Self Employed
©Bytestart Limited 2005-2008 :: All Rights Reserved :: 'The Small Business & Start-Up Portal' :: Terms of Use :: Site List :: RSS & Site Feeds
Business Insurance, Business Bank Accounts, Public Liability Insurance, Professional Indemnity, Startups, Limited Company, Sole Trader
