Firms could be owed tax relief

Business workshops aimed at raising the profile of unclaimed tax reliefs will be held in Fife.

In association with EQ Accountants LLP, Fife Chamber of Commerce is hosting the event titled R&D Tax Credits: What Is It And How Much Is It Worth?

The first event will be held at Fife Chamber of Commerce, John Smith Business Centre, Kirkcaldy, at 9.15am on Friday June 9, and then repeated at Holiday Inn Express, Dunfermline, at 9.15am on Thursday June 22.

Ross Oliphant, a partner in EQ’s Glenrothes office, will talk through research and development tax reliefs and explore the range of projects that could qualify.

He said: “The UK has several tax reliefs for research and development for all sizes of company. The reliefs are generous but the detail of what activities qualify, and who qualifies for which relief, can be difficult to determine.

“In addition, the tax reliefs are substantially under-claimed, particularly at the small- and medium-enterprise level.

“This one-hour workshop considers the main issues to bear in mind when looking at the possibility of claiming R&D reliefs.”

Alan Mitchell, chief executive of Fife Chamber of Commerce, said: “Fife has many innovative businesses and we hope EQ and our other Fife Learn partners will help them to unlock their creativity to the fullest extent possible.”