Research and development tax credits are gaining an increasing presence within brewers and drinks wholesalers. Pumped Business Solutions are providing more and more advice to both brewers, on trade outlets and their supply chain with regard to R&D tax credits.
A classic example of where Tax Credits can be claimed would be the restaurant sector. Many restaurants do not understand where research and development tax credits can be made and how between 40% and 60% of restaurants would have a valid claim for things like menu changes, experimenting with food and preparation and failed projects. The average claim for restaurants currently is around £45,000. Pumped Business Solutions managing director Jon Lee said "It is our goal to make sure that's all restaurants, pubs, clubs, bars and groups understand the legislation surrounding research and development tax credits. We want to ensure all outlets maximize every claim that we make. There are tough times ahead in the drinks industry so anything that Pumped Business Solutions could do to maximise any reward would be a great help and would prevent in some cases the closure of businesses altogether".
Sunday, 2 July 2017
Wednesday, 31 May 2017
Research And Development Tax Relief for Brewers and WholesalersTop Tips
Did you know that by ensuring you have a 'Project manager' named in your business you actually increase the amount in terms of percentage of salary that can be claimed against R&D tax relief. Obviously the role must be plausible and justified, however it is one of many areas that by focusing, you can ensure you maximise any claim for Research and Development.
Saturday, 29 April 2017
R&D tax relief within Craft brewing businesses
We love helping craft brewers develop their businesses and become more competitive and profitable whilst saving valuable time and effort.
Where does the tax relief within a brewery originate from? There are 5 main areas where we can help you to maximise your Research and Development tax claim.
Systems
Processes
Products
Materials
Devices
In each area there are opportunities to claim research and development tax relief.
You must first of all imagine that every new project your business approaches has an imaginary circle around it..Once you have the project title and surround it, the key is to ensure that every person who is involved in the project 'who enters the circle' logs the exact time he was in and out of the project and what his contribution to that project was. One of the key areas of R&D tax relief is apportioning a percentage of the salaries of each person involved in each project.
For a simple explanation watch our new video
https://youtu.be/Qy114-SQhlA
Where does the tax relief within a brewery originate from? There are 5 main areas where we can help you to maximise your Research and Development tax claim.
Systems
Processes
Products
Materials
Devices
In each area there are opportunities to claim research and development tax relief.
You must first of all imagine that every new project your business approaches has an imaginary circle around it..Once you have the project title and surround it, the key is to ensure that every person who is involved in the project 'who enters the circle' logs the exact time he was in and out of the project and what his contribution to that project was. One of the key areas of R&D tax relief is apportioning a percentage of the salaries of each person involved in each project.
For a simple explanation watch our new video
https://youtu.be/Qy114-SQhlA
Research & Development Tax Relief
We care about the future of brewing in the UK.
What would you be able to do with £33,000 in tax relief??
Research & Development tax relief is a government scheme to help brewers businesses invest in new products , systems and devices that provide a stress free, time saving solution to growing and adding value to your business.
Pumped Business Solutions specialise within the drinks sector. We talk the talk and walk the walk with our brewer and wholesale clients, supporting them with a front to back R&D solution, allowing them to continue with their important daily tasks.
Learn more about R&D tax relief by watching our easy to understand video.
https://youtu.be/Qy114-SQhlA
What would you be able to do with £33,000 in tax relief??
Research & Development tax relief is a government scheme to help brewers businesses invest in new products , systems and devices that provide a stress free, time saving solution to growing and adding value to your business.
Pumped Business Solutions specialise within the drinks sector. We talk the talk and walk the walk with our brewer and wholesale clients, supporting them with a front to back R&D solution, allowing them to continue with their important daily tasks.
Learn more about R&D tax relief by watching our easy to understand video.
https://youtu.be/Qy114-SQhlA
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