Here at Enhance Consultants we may post a lot about our R&D tax relief consultancy services. However, our tax relief experts can assist with many other types of tax relief claims too. Some of the different types of tax relief claims that we can maximise for clients include Capital Allowances, Energy-Intensive Industries (EII) Exemption, Creative Industry (CITR), Climate Change Levy (CCL), Patent Box and Remediation of Contaminated Land (ROCL).
Through discussing our clients’ businesses with them we can identify which types of tax relief they are eligible to claim, and work to ensure that they are able to obtain the maximum benefits.
Here’s a brief introduction into the other tax relief types that we can assist companies in claiming…
Capital Allowances tax relief allows taxpayers to get tax relief on capital expenditure through allowing it to be deducted against their annual taxable income. Most assets purchased for use in a business, from equipment and research costs to building renovation costs, are eligible for Capital Allowances tax relief. Capital Allowances relief generally covers the cost of buying plant & machinery and fixtures & fittings when acquiring, constructing, fitting out or refurbishing a commercial property.
Energy-Intensive Industries (EII) Exemption
The Energy-Intensive Industries (EII) Exemption scheme allows businesses to claim an exemption of up to 85% of their Feed-in-Tarff, Contract for Differences and Renewables Obligation costs back when they are working to reduce their carbon footprints.
Creative Industry (CITR)
Creative Industry Tax Relief (CITR) is designed to assist technical innovation and company growth within the creative industry. It is made up of 8 Corporation Tax reliefs. These are Film Tax Relief, Video Games Tax Relief, Animation Tax Relief, Theatre Tax Relief, High-end Television Tax Relief, Children’s Television Tax Relief, Museums and Galleries Exhibition Tax Relief and Orchestra Tax Relief.
Climate Change Levy (CCL)
Because of the effects of climate change, the government has introduced the Climate Change Levy (CCL). CCL tax relief has been made available to encourage businesses to be more energy efficient with the intention of reducing their overall emissions. Businesses carrying out energy intensive activities may be eligible for a CCA (Climate Change Agreement), which can aid them in getting a discount of up to 90% on their CCL costs.
Patent Box Tax Relief is available to assist companies that are driving innovation and encourage others to develop new patented inventions in the UK. It allows companies to apply a lower rate of Corporation Tax to profits earned from their patented inventions.
Remediation of Contaminated Land (ROCL)
Remediation of Contaminated Land (ROCL) Tax Relief is a type of tax relief available for expenditure which is incurred on removing or treating contaminants in land or property. Just a couple of example costs that this tax relief covers includes costs incurred through removing asbestos and bringing derelict land back into use.
Full details on the different types of tax relief we are able to assist businesses in claiming will soon be made available on our website.
Here to Help
If you would like to determine whether your company could be eligible to claim any tax relief, our tax relief experts are only a phone call away. Simply get in touch to uncover any tax relief that you’re owed. We offer FREE consultations with all UK businesses and only charge clients if we can assist them in making successful tax claims. You’ve got nothing to lose.