Tax incentives to help businesses prosper

"We also have a duty to inform businesses how they can access support to help them grow and which will in turn impact on the local economy.”

Business Development Officer Janet Mortezazadeh-Daragheh

Businesses are being invited to find out how they might benefit from government plans to increase research and development tax credits from April.

Staffordshire University, in partnership with accountancy firm RSM Tenon, are holding a free seminar at their Stafford campus on Wednesday 8th February which aims to give practical advice and guidance on how companies can take advantage.

Research and Development (R&D) Tax Credits were first introduced in 2000 to provide tax incentives to companies to invest in innovation. Tax relief is available to any company that carries out innovative activities to increase overall knowledge or capability.

However according to RSM Tenon's Quarterly Business Barometer, which surveys senior management in small and medium sized businesses,  20 per cent of Staffordshire firms are unaware of the tax benefits which allow firms to claim back more than £2.00 for every £1.00 spent on research and development.

Business Development Officer for Enterprise and Commercial Development, Janet Mortezazadeh-Daragheh said: “The University already undertakes research and development work which helps local businesses to improve both their products and processes. However we also have a duty to inform them of how they can access support to help them grow their businesses and which will in turn impact on the local economy.”

• The seminar takes place at Staffordshire University in the Octagon boardroom, Beaconside, Stafford from 12 - 3pm and includes a free lunch. To register your attendance click here.