Tait Walker and HMRC - Joint Event
September 25th 2012
Did you know…
· The annual cash value of R&D Tax Relief claims is more than £1bn.
· The annual cash value of Patent Box claims is forecast at £1bn.
· The Creative Tax Reliefs will be worth more than £35m a year.
But…
· The North East is equal last on the national table of regional R&D spending by companies.
· In 2010, of 7,100 EU wide patents registered by UK companies, only 85 came from the North East, the lowest number by region.
· Investment in the UK’s Games Industry has declined in recent years and in recent months the North East’s games association (Codeworks) has ceased operating.
Why is this seminar important to you....
This seminar will cover two entirely new corporate tax reliefs and one existing, but very underused tax relief. It is likely that many companies across the North East will be able to claim at least one, and in theory could potentially claim all three of these reliefs.
You may have been to seminars which have outlined Patent Box before, but HMRC’s presentation at this seminar should make a real difference to your understanding of how HMRC expect companies to use the Patent Box rules.
Phil Louch from HMRC’s Patent Box team will be presenting on how the rules will operate from HMRC’s perspective, including:
· What the policy objective is – what is intended to happen?
· How the rules will operate to provide relief and what income is included.
· Steps businesses with complex claims can take to ensure they are getting the calculations right.
Sharon Connolly from HMRC’s R&D Unit will present on:
· Developments in the R&D Tax Reliefs since September 2011.
· The increase in rates and changes relating to “production”.
· The Above the Line Credit for large companies.
· The proposed Creative Tax Reliefs, how they will help games, TV and animation companies.
Alastair Wilson, Tax Partner at Tait Walker LLP will present on:
· What these new reliefs mean in practice, with real life examples.
· How to make using the reliefs as easy as possible.
· Why HMRC should be seen as an organisation to work with, not against.
· Why businesses should view these reliefs as an alternative to bank or grant funding.
· Why 12 years on, businesses still aren’t claiming the R&D tax relief – what can be learned which can improve the rate of take up of Patent Box and Creative Tax Reliefs
Tees Valley Seminar - Wynard Rooms
12.00 - Registration and lunch
12.30 - Presentations start
14.00 - Finish
Newcastle Seminar - Falcons Rugby Club
16:00 - Registration and afternoon tea
16:30 - Presentations start
18:00 - Finish
Please click here to view the event flyer
To book a place at either of these events, please contact Kirsty Ramsey on 0191 285 0321 or email kirsty.ramsey@taitwalker.co.uk.
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