GovGrant to highlight tax relief schemes for plastics innovators

GovGrant, a specialist service provider bringing together three businesses specialising in tax relief in different areas, will highlight the opportunities available for innovative plastics companies at Interplas.

The company’s experts will be at the show in order to explain to visitors how they can maximise their entitlement to thousands of pounds of Government funding each year in order to cut costs for research and development projects.

The first, R&D Tax Credits, can reduce the cost of innovation and development activities by up to 33 per cent, for any UK Limited company undertaking activities that seek to achieve a technological or scientific advance or improvement. Second, Patent Box, can reduce corporation tax to 10 per cent on profits from the worldwide sale of patented products or processes for a UK Limited Company, with a UK or EU filed patent.

Finally, Capital Allowances can generate up to 45 per cent tax allowances against qualifying expenditure incurred on commercial property new build development, acquisition, extension, conversion, renovation and/or fit out with plant and machinery. A company, partnership or individual subject to either UK corporation or income tax can claim.

Visit GovGrant – Hall 4|Stand C87