Our Services

At YesTax we’ve put together a team of the UK’s leading tax specialists to help your business benefit from the best possible tax reliefs and incentives. Our wealth of experience and industry know-how allows us to provide a broad range of services, including R&D Tax Relief, Patent Box Relief, Video Games Tax Relief, Capital Allowances and Accountancy Training & Consultancy.

R&D Tax Relief

What is R&D Tax Relief?

Research and development (R&D) tax relief rewards companies for investing in research and development by offering an opportunity to claim either a reduction in corporation tax or, for loss making companies, a payable tax credit.

R&D tax relief claims require companies to identify qualifying R&D expenditure and activity. Most of our claims are for companies simply doing what they do in the ordinary course of their business. This may include developing new products, processes or services or duplicating existing products and processes in an appreciably improved way. The development does not have to be blue sky innovation, however, it is necessary for the company to demonstrate some kind of technical uncertainty in the work being undertaken.

R&D tax relief available to small and medium enterprises (SMEs) has been substantially increased over the years and unsurprisingly, so has the number of claims being submitted to HMRC.  Currently, companies receive an additional 130% tax relief on qualifying expenditure. In simple terms, and depending on the tax position of the claimant company, this means that R&D tax relief is worth between 25%-33% of qualifying expenditure.

R&D tax relief is also available to large companies which exceed the SME threshold test. The Research and Development Expenditure Credit (RDEC) was introduced in 2013 and produces a tax benefit of around 9% of qualifying expenditure.

YesTax advises on R&D tax relief across a huge number of sectors. Our combined experience has seen our team manage over 3000 R&D tax claims in the last 20 years. We are bullish in our claim that we are the best of the best.

Say Yes to deep expertise in this interesting and generous area of the UK tax system.

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Patent Box Tax Relief

What is Patent Box?

The Patent Box regime was introduced in the UK in 2013 to incentivise businesses to commercialise their patented technologies. Patent Box works by reducing the tax paid on the profits derived from patented products.

Businesses which qualify for the scheme will benefit from an effective corporation tax rate of 10% on income deriving from the commercial exploitation of patents. The relief has been phased in over four years, so full relief on all Patent Box profits finally came into force in 2017.

Any UK company which pays corporation tax and holds interests in a patent (or certain other intellectual property rights) can benefit from the scheme straight away. Any company that does not have a patent can apply for a patent and benefit from the tax relief from the date the grant is applied for. It will usually take between 6 months and 6 years to obtain a patent, but the qualifying IP profits are accrued from the date of application and the relief is given when the patent is granted.

Some business leaders and accountants assume a company might struggle to secure a UK patent. But often a strong case can be made with a lower barrier to success than you may think.

At YesTax, we can put you in touch with one of our trusted Patent Attorney partners who will discuss the possibility of obtaining a patent. Once your patent has been granted, we can advise on how to maximise the tax savings offered by the Patent Box.

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Video Games Tax Relief

What is Video Games Tax Relief?

The Video Games Tax Relief (VGTR) scheme was introduced in the UK in 2014 as part of a series of Creative Tax Reliefs. The intention of these reliefs are to incentivise the promotion of British culture to the world, with generous tax breaks available to organisations designing, creating and performing works that satisfy this objective.

Other similar reliefs include Film Tax Relief, Animation Tax Relief, High-end Television Tax Relief, Children’s Television Tax Relief, Theatre Tax Relief, Orchestra Tax Relief and Museum and Galleries Exhibition Tax Relief. YesTax can assist with any claim for these reliefs.

VGTR is perhaps unique in that companies can claim the relief in conjunction with R&D tax relief, with VGTR being an alternative consideration where a game does not qualify for R&D tax relief. The combination of these reliefs gives companies that are developing video games a great incentive to develop games that both enhance technology and promote British culture.

To qualify for VGTR, a company has to develop a game that is certified as British by the British Film Institute, is intended for supply, and has incurred at least 25% of its total expenditure in the European Economic Area (EEA). Only one company can claim this relief per video game, and where more than one company contributes to the game the “most involved” company will have priority to this relief.

The additional relief available to companies extends to the amount of core expenditure incurred in the EEA. Where this exceeds 80% of total core expenditure, the additional relief is capped at this amount. Core expenditure within the scope of VGTR broadly covers design, production and testing of video games, with expenditure on staff and external subcontractors constituting the vast majority of most claims.

Companies are obliged to split games claiming VGTR into separate trades within the corporation tax computation. Where a trade makes a loss, this can potentially be surrendered for a payable credit of 25% which is aimed at supporting games in mid-development to reach a commercial stage.

Despite the generosity of this scheme, certain elements of making a claim can become very complicated. YesTax has several years of experience in assisting its clients with this underclaimed relief, including jointly claiming R&D relief to maximise the incentives available to UK video game developers.

Say Yes to tax incentives for creativity and innovation in this specialist sector.

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Capital Allowances

What are Capital Allowances?

Capital allowances enable commercial property owners to obtain tax relief relating to capital expenditure incurred under the Capital Allowances Act 2001. This makes a property with capital allowances more valuable than an identical property without capital allowances. Capital allowances are a tax relief on capital expenditure within a commercial property, incurred to enable the function of its trade. At a very basic level you will always need the combination of qualifying expenditure and a qualifying activity.

To identify and analyse the cost information to the detail required by HMRC, a capital allowances specialist with both tax and surveying knowledge is required. Identifying qualifying expenditure is not just a tax exercise – a knowledge of construction and surveying is required. For this reason, a capital allowances claim is a specialist undertaking which requires a full survey and valuation-based exercise to be carried out on your commercial property. Our surveyors enable you to identify the extent of fixed plant and machinery embedded within your commercial property to unlock the true value of this tax saving opportunity.

  • Abattoirs
  • Airports
  • Bakeries
  • Banks
  • Butchers
  • Care homes
  • Clinics
  • Colleges
  • Dental surgeries
  • Doctor's surgeries
  • Enterprise centres
  • Factories/foundries
  • Farm buildings
  • Garages
  • Holiday lets
  • Hospitals
  • Hotels
  • Jewellers
  • Leisure centres
  • Mine buildings
  • Newsagents
  • Offices
  • Opera houses
  • Privatised transport
  • Quays and dock Buildings
  • Railway stations
  • Restaurants
  • Retail units
  • Riding schools
  • Sewerage works
  • Theatres
  • Trailer/caravan Parks
  • Undertakers
  • Vehicle repair workshops
  • Warehouses
  • Vet practices
  • Zoos

Capital allowances are available for almost any business. However, the sectors listed above are those which may offer particularly large tax saving opportunities.

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Accountancy Training & Consultancy

We are excited to announce that Alison Ralston (Lynch) has joined us to head up the Accountancy Training and Consultancy service. Alison is a strategic thinker and motivational leader who likes to lead by example inspiring teams to deliver. She has a proven track record of commercial success - leading, motivating and selling.

Alison and the YesTax team have been a work family for nearly a decade now and as well as having some of the best years of our lives working together we have a blueprint to achieve amazing results for our accountancy partners. We are providing consultancy, training and ‘one to one’ support to maximise the performance of your tax consultancy department.

We do this by creating and maximising opportunities, relationships, and profits as a force for good. We provide strategic consultancy for the main stakeholders of an accountancy business and operational support and training and development to help drive profit. This is a very unique opportunity to learn how to commercialise your tax consultancy department to help drive profit.

This typically involves...

STRATEGIC CONSULTANCY SUPPORT:

  • Help with creating a strategic plan for your tax consultancy department.
  • Carrying out a review of your current strategy to ensure that you are maximising opportunities in terms of clients and services.
  • Ongoing support at a strategic level to ensure that you achieve your goals and objectives.

OPERATIONAL CONSULTANCY SUPPORT:

  • Carrying out a health check of your operations to ensure that you are maximising opportunities.
  • A comprehensive review of your existing client base to ensure that there are no tax consultancy opportunities missed. Assisting you in carrying out a full client review to ensure that you are maximising opportunities.
  • Skills audits of your people to ensure that they have the skills, knowledge and aptitudes to maximise relationships and opportunities

TRAINING AND DEVELOPMENT:

  • Leadership and management
  • Business development and lead generation
  • Sales skills
  • Tax Relief product knowledge
  • How to prepare R&D and Patent Box claims
  • Estate Planning and CGT Planning workshops
  • Tax efficient investment training
  • HR and people management issues

MARKETING AND BUSINESS DEVELOPMENT SUPPORT

  • Creating a marketing and business development plan to help increase tax consultancy revenue.
  • Carrying out a review of your current marketing and business development activities.
  • How to build your Tax Consultancy Practice
  • Assisting in the creation of marketing collateral including tax brochures, fact sheets, aide memoires, technical articles, templates, case studies, social media content.
  • Overseeing delivery of the above to ensure you achieve your goals.
  • Businesses that do good, do better! Assistance in embedding giving right into the core of what you do.

HR CONSULTANCY SUPPORT:

  • Auditing your HR policies and procedures
  • Providing HR support to create consistency in policies and procedures

SPEAKING AT INDUSTRY AND IN COMPANY EVENTS:

  • ‘Strategic’ issues
  • ‘Technical’ knowledge
  • Industry trends and best practice
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