Located in the heart of the City of London, RCK Partners are a leading Financial Consultancy specialising in tax incentives and innovation funding. Our mission is to provide clients with exceptional and industry leading service in the provision of innovation funding, whilst simultaneously maximising value and security. We partner with accountants, insurance brokers, project managers, suppliers, trade bodies and end users. We prioritise efficient and timely client delivery, with a dedicated Senior Consultant leading you throughout the entire process from the initial call to the final submission. A personal touch is at the heart of our service, allowing us to tailor our approach to the needs of our clients without outsourcing key responsibilities to external entities.
When it comes to business expenditure, it can be classified as either capital or revenue in nature. Revenue expenditure is generally related to repair works, while capital expenditure usually refers to items that provide a lasting benefit for the trade of a business. However, this type of expenditure is typically not deductible from trade profits. To obtain tax relief, businesses can claim Capital Allowances.
These allowances are available on the expenditure incurred for the provision of plant and machinery. As a result, businesses that have incurred capital expenditure on their commercial real estate, such as property developments, acquisitions, fit-outs, and refurbishments, would be eligible for these allowances. In summary, Capital Allowances provide a valuable form of tax relief that businesses can take advantage of to reduce their tax liability.
R&D Tax Relief
The R&D Tax Relief is a government incentive that aims to support British businesses that are undertaking technically challenging work. The main goal of this incentive is to create jobs in the UK, attract foreign direct investment, and encourage a culture of innovation. Since its introduction back in 2000, the R&D Tax Relief scheme has expanded significantly to help a wide variety of sectors. As a result, more and more businesses are taking advantage of this opportunity to reduce their tax liability and invest in research and development. The R&D Tax Relief scheme is an excellent opportunity for businesses to benefit from tax relief while promoting innovation and growth in the UK.
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