On Monday last the Daily Telegraph Business section published a short report titled “Banks End Overdrafts for Smaller Firms”. It says, and I quote…
“Overdrafts for small firms are being withdrawn or cut by major lenders at an increasing rate, restricting working capital for hundreds of thousands of British businesses, a survey shows.
“Around 17% of SMEs have reported that banks have removed their overdrafts altogether and a total of 30% have seen reductions imposed…”
If you are in need of additional cash (for this or any reason) there may be a solution at hand if you have been a clever clogs. It comes in the form of a tax rebate from Her Majesty’s government for your research and development efforts.
How much can you get? The calculation has a number of dependencies, but if you work on getting back the Corporation Tax rate (20%) of 125% times your innovative R&D spend over the past two years then you have a reasonable ‘guesstimate’. And you do not have to have been making profits.
Want to know more? Email me today!
Kind regards, Tony Lord
R&D Tax expert, email@example.com
PS you could have a cheque within eight weeks, and no strings!