Tourism R&D Tax Credits
Tourism is one of the biggest industries in the UK, contributing £93bn to the economy each year. It also supports many other industries, such as catering, transport and the creative industries. The tourism industry is also experiencing unique challenges which are ripe for research and development. For example, many museums and other tourist attractions are offering virtual tours. These can open venues up to wider audiences, but can be difficult to monetise. Ensuring the tourism industry is able to meet these challenges and continue to grow is one of the reasons to claim tourism R&D tax credits. After all, R&D projects can be a risky venture, which may require a large initial outlay, before generating income. However RandD tax can help reduce this risk. Our team of tax consultants can help you access government support for tourism. These funds can be used to cover much of the expenditure attached to R&D, including:
- Staff costs
- Software expenses
Can I claim tourism R&D tax credits?
Generally, your tourism business will be able to claim R&D tax credits if:
- It is a limited company, subject to corporation tax
- It takes part in researching or developing new products or processes - or improving existing ones
- It spends money on these projects
However, it can be difficult to identify what projects are eligible and what scheme to claim under. If you are unsure about anything to do with your R&D tax credits claim, RandD Tax are here to help. Our experienced tax consultants offer a FREE ASSESSMENT to see if you can claim, and we offer a no win, no fee claims process. We will be on-hand to support your throughout the claims process, from the initial assessment to your final payment.
Our team has the knowledge and experience required to ensure your claim is processed with HMRC as quickly as possible.
How to claim tourism R&D tax credits
When you claim with RandD Tax, you will be supported by a dedicated consultant. We will be able to ensure the claims process is as straightforward as possible. We will even be there to support you through any HMRC enquiries.
We appreciate that claiming tourism R&D tax credits direct from HMRC can be a complex and time consuming process. That is why we are here to claim for you, so you can concentrate on running your business.
Contact RandD Tax to make your claim today.
If you aren’t sure about making a claim, see these case studies about companies that have benefited from R&D tax credits.
Get in touch today regarding accountancy R&D tax credits