We specialise in
EIS,
SEIS or
VCT tax relief whereby an investor can get tax back through making qualifying investments. This is the most generous form of tax relief but it comes with risks on your investment and also getting your compliance wrong resulting in lost or cancelled tax rebates.
If your company is undertaking a project that is looking at innovating, improving, or developing a product, process, or service, then you may qualify for R&D tax relief. There are two different types of R&D relief which are generally dependant on the size of your company. This relief is not available to non-companies.
This can be for an individual or a corporate entity which disposes or transfers an asset which has a capital investment quality rather than an income trading characteristic. The main difference can be thought of if you hold an item which you purchased without intending to improve upon it or develop it with a view to increasing its value. Instead you expect the item to increase in value just by the passing of time.
Most of the estate planning we do is to help people ensure that they are helping their descendants after they have passed. However for some people, especially those with significant assets, there are tax efficient ways (regarding things such as IHT) to help friends and family whilst they are still alive.
SITR was set up in 2013-14 tax year and is very similar to another HMRC initiative called the EIS which was set up in 1994. The tax reliefs are the same with 30% income tax rebate, hold over capital gains tax deferral and capital gains exemption on disposal and was clearly designed to create minimal confusion on the application of SITR.
These new forms of relief have been recently introduced to reward creative activities which require significant amounts of time to develop a product or service:
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Film Tax Relief (FTR)-
Animation Tax Relief (ATR)-
High-end Television Tax Relief (HTR)-
Children’s Television Tax Relief (CTR)-
Video Games Tax Relief (VGTR)-
Theatre Tax Relief (TTR)-
Orchestra Tax Relief (OTR)-
Museums and Galleries Exhibition Tax Relief (MGETR)Our experienced team will be more than happy to assist you with any queries you may have. Get in touch with us via the contact form or call
020 3728 2848.