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“Overdrafts for small firms are being withdrawn or cut by major lenders at an increasing rate, restricting working capital for hundreds of thousands of British businesses, a survey shows.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, tony.lord@butlerbasfordlord.co.uk

PS you could have a cheque within eight weeks, and no strings!