Member Article

Businesses should look for innovation opportunities, say experts

Businesses owners should look for innovation opportunities in their businesses, which could help them to make significant tax savings, according to Clive Owen & Co LLP.

For many businesses, industrial problem solving and product design are part of the day-to-day operation of their business. Simon Briton, senior tax manager at Clive Owen & Co believes that this means that some businesses are missing out.

He commented: “There could be potentially thousands of pounds of tax saving opportunities if companies take the time to find out how they might qualify.

“Certainly in a manufacturing environment this is common place.”

To help businesses find out if they could be eligible, Clive Owen & Co LLP are holding a free innovation event at their offices in Darlington to help businesses make the most of tax break available for research and development and profits arising from patents.

It will feature advice from Innovation Scout, a company which works with business owners to identify innovation and leading patent attorneys Urquhart-Dykes and Lord, who will look at how patents can be obtained to get access to tax relief.

The event will help people focus on the innovation and opportunities for innovation in their businesses, and look at how tax benefits can be accessed by taking a more structured approach to research and development.

Mr Briton added: “Our event is about uncovering innovation in businesses and making R&D happen.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .