Member Article

How to take advantage of tax breaks and grant support

Entrepreneurial North East firms are being offered expert advice on how to take advantage of a tax break and grant support. Small and medium-sized businesses can claim up to 50% tax relief on all investment in this field. In addition, they may also be entitled to R&D grant support.Firms are being urged to sign up to an event later this month where experts will explain clearly how the Government administered system works, which companies qualify and how to apply for the tax relief and grant.Ian Williams, Head of Business Products at One NorthEast which is hosting the event in conjunction with chartered accountants UNW LLP , said: “In 2000, the Government introduced a new tax relief to help small and medium sized companies investing in new research and development. “Eligible companies may claim an extra 50% deduction on expenditure that meets the requirements of the rules. “This important information event is being staged to raise the profile of this financial incentive, which could prove invaluable to regional companies looking to access new markets and opportunities by investing in research and development.“One NorthEast administers the R&D grant in the region which can support up to 65% of the revenue costs of developing technologically innovative products. The scheme is open to small and medium-sized companies who can demonstrate a need for support. The free event on Thursday June 29 takes place from 10am to 1pm in the Riverside Suite at Durham Cricket Ground with breakfast served from 9.15am. Firms wishing to register their attendance at the Durham event should contact Ross Forster at One NorthEast on tel: 0191 229 6900 or email: ross.forster@onenortheast.co.uk. For more information on the R&D grant scheme, please contact Gary Roe at gary.roe@onenortheast.co.uk.

This was posted in Bdaily's Members' News section by Ruth Mitchell .