We’re always alarmed at how few businesses are uninformed about claims they can make regarding this tax and it’s been around since 2000.
It’s not surprising though. Traditional accounting practices are sometimes slow to make recommendations or point clients towards new incentives introduced by the government and it does bring its own complexities.
Business people can often see the benefit in the claim but have so many other priorities that it gets left, and left. Or, they assume it doesn’t in any way apply to them or their operations so it’s never pursued.
However, when you find a specialist who instantly knows how to save you money, you’ll add them to your supplier list immediately.
Urban has been aware of what we can claim for developing solutions for some while because we fall quite easily into the category for claiming tax relief on our work, but it’s only recently that we know, equally that our clients can also make these claims on top of ours. Of course there are criteria to fulfill so at this juncture, I will direct you towards this article which is a useful starting point.
And, if you are especially clever about the return of tax, you can use it to fund further development work so that you’re creating a pot of budget that’s commited to your software growth.