Your Pension Obligations as an Employer

Your Pension Obligations as an Employer

 

Pensions are an essential resource for individuals as a reliable source of income to live on when they retire from working. A recent investigation found that the average pension pot savings across the UK are £61,897 which tends to also come with an extra £12,000 annually in retirement income. This is a significant amount to allow an individual to have a basic retirement lifestyle, but this money doesn’t appear out of thin air. As an employer, it is your duty to attend to an employee’s enrolment in a pension scheme to help facilitate this lifestyle post-retirement, which will be the focus of this piece.

What do I need to contribute?

Before we delve into what your obligations are, let’s run through the actual rates an employer and employee need to contribute to the pension pot.

The amount contributed to the pension depends on the type of workplace pension scheme the employee is enrolled in, or whether the employee has opted into a scheme or has been automatically enrolled. Make note of the auto-enrolment, as this is an important system every employer should be aware of and will be discussed in depth further on. Additionally, it is common for the government to apply a tax relief to a pension provided that the person pays income tax and pays into a personal or workplace pension.

If an employee is auto-enrolled, you as an employer must contribute at least 3% of an employee’s earnings towards the pension scheme. The employee then makes up the reminder to make the total minimum contribution of 8%. These rates only apply if the person earns between £6,240 and £50,270 a year pre-tax (also known as “qualifying earnings”) and may also be influenced by the type of private pension scheme they are enrolled in.

What is auto-enrolment?

Auto-enrolment moves away from the archaic method workplace pensions used to operate. In the old system, a burden was placed on the employee to enrol into a pension scheme but now the process is automatic provided the employee earns above £10,000 per year and is over the age of 22. This pension pot can only be accessed once the employee is 55 years old, otherwise, it is held by the company.

The reason for this change is to increase the number of people saving for retirement, which has produced positive results with 78% of UK employees enrolled in a workplace pension – up from less than 50% in 2012 when auto-enrolment came into effect.

You must also let them know when they’ve been auto-enrolled as well as:

  • The date they were added to the scheme
  • The type of pension scheme and who runs it
  • Employer and employee contributions
  • How to leave the scheme. Note that you must refund money if the employee opts out within a month
  • How tax reliefs apply

You must notify them in writing of their right to join the pension scheme and of its associated details. They also have a right to rejoin a scheme at least once a year and you must auto-enrol them every 3 years if they’re still eligible and have previously opted out. It is your duty to inform an employee of these details and you cannot refuse a request to join a pension scheme. An exemption lies if, and only if, your employee earns less than the following amounts:

  • £520/month
  • £120/week
  • £480 over 4 weeks

But you don’t always have to auto-enrol your staff if they don’t meet any of the above criteria or the following conditions:

  • They have already provided notice to leave, or you have provided notice
  • They have evidence of “lifetime allowance protection”
  • They are already on an arranged pension with you
  • They have taken a lump sum payment from a closed pension scheme, and have left and rejoined the same company within 12 months of payment received
  • They opted out of an arranged pension scheme more than 12 months before the auto-enrolment start
  • They are from an EU member state and in an EU cross-border pension scheme
  • They are in a Limited Liability Partnership (LLP)
  • They are a director without an employment contract and employ at least one person

Do I have to enrol immediately?

You are not actually required to auto-enrol your employee as soon as they are eligible. A 3-month delay period is allowed but you must inform your employee of the delay. 

You can also delay the first 3 months of pension contributions, and instead pay it as a lump sum on the 22nd of the fourth month from the start of enrolment.

There are also tax saving incentives via usage of the ‘salary sacrifice’. Also known as a ‘SMART Scheme’ the salary sacrifice works by paying a portion of the salary an employee gives up directly to the pension pot. This may be desirable as it means you and your employee pay less tax and NI.

What happens if I don’t auto-enrol?

To keep things simple, you will be penalised, and in some cases heavily. The typical process involves fines being noticed, which must be paid online. In the event you are late in payment, missed contributions are expected to be paid to staff and may include the need to backdate contributions. You may also be expected to pay your staffs own contributions on top of your own. Further action involves court proceedings to recover debts which could end with a maximum of 2 years imprisonment.

Fines tend to range between £400 for non-compliance with notices to as much as £10,000 daily depending on the size of your company and staff numbers. 

If you have further questions regarding your obligations as an employer towards pensions feel free to give us a call and have a chat. Find our contact details here.

 

Remittance Basis for Non-Domiciles in the UK

Remittance Basis for Non-Doms in the UK

 

What does the term ‘Remittance Basis’ mean to you? If you are a domiciled UK resident it probably won’t mean much, but if you are non-domiciled (or non-dom) this is a concept which you should familiarise yourself with as it could be a huge advantage in your favour. In short, if you are eligible for Remittance Basis you are only taxed on your non-UK income and Capital Gains if they were brought into the UK.

So if you do not have UK income and Capital Gains, as well as having no need to bring in non-UK income to sustain your living, you can be deemed as a UK tax resident and pay no tax. This is a huge prospect that many overseas individuals living in the UK are unaware of.

 

What is meant by tax residence?

Tax residence is defined by how many days an individual spends in the UK. For an individual to be considered a UK resident for tax purposes, the must have spent a minimum of 183 days in the UK during any tax year.

Certain factors can actually affect how many days spent in the UK qualify you as a tax resident, such as having family living in the UK. As the number of factors connecting you to UK stay increases, the fewer days you can spend in the UK without gaining tax residency status.

 

What is meant by domicile?

Domicile is a concept of common law, and an individual can only ever hold one domicile at any point in their life. In this regard it is very distinct from residency, as you cannot be domiciled in more than one country at a time, nor can you be domiciled nowhere. In most cases, you are domiciled in the country you have permanent residence in.

A non-dom has limited exposure to the UK tax rules due to the fact they have less of a connection to the UK than say someone who was born and domiciled in the UK. As a result, a non-dom has thrice the tax advantage of an average taxpayer:

  • Being able to benefit from the Remittance Basis of tax
  • Restricted Inheritance Tax to UK assets
  • The ability to create a non-resident trust where the individual can benefit. The individual is exempt from IHT, CGT, Income Tax and anti-avoidance rules being placed on the trust’s assets

 

 

What is ‘Remittance Basis’?

If you are a UK resident but non-domiciled (ie. you are living in the UK but plan to return to your homeland in the future) your foreign income is taxed on an arising basis. This means your worldwide income is taxed whether or not it is brought and spent in the UK, however you can apply for a claim under the Remittance Basis.

This claim is not automatic, as you must apply for the Remittance Basis via your UK tax return and it can only be claimed in some tax years.

The number of years you have resided in the UK also determine the Remittance Basis Charge (RBC) you pay when you bring foreign income to the UK:

  • In the first 7 tax years of residency in the UK, the Remittance Basis is free of charge, at the downside of losing some minor CGT and income tax allowances.
  • When at least 7 of the previous 9 tax years have been spent as a UK resident (ie. you are in your 8th year of continuous UK residency), the annual RBC payable is £30,000.
  • If you have been a UK resident for at least 12 of the previous 14 tax years, the RBC rises to £60,000 per annum.
  • From the 15th tax year onwards no RBC is imposed on you as you will be deemed domicile in the UK, and you will no longer be able to benefit from the Remittance Basis.

It is also worth noting that an individual considered a minor during the duration of a tax year is exempt from RBC.

 

Pre-Arrival advice

Funds that you bring into the UK before gaining tax residency is considered to be ‘clean capital’ – which is exempt from income tax and CGT. This also includes:

  • Income/gains which were taxable on an arising basis (income was from a UK source or gains were attributed to a UK asset)
  • Gifts or inheritances
  • Income/gains received during relief from a ‘split year’ treatment under the scope of the statutory residence test
  • Income/gains received from dual residency under a double taxation treaty

 

If you are planning on moving to the UK, you need the best advice and specialists. The UK tax system is strict, and it is important that you plan your lifestyle funding well in advance. WIM Accountants can help you make your claim and will endeavour to guide you every step of the way. This blog post aims to serve as a basic introduction to non-domicile status in the UK, but if you have more queries or would like to have a chat about our services feel free to contact us.

Stamp Duty Land Tax: Understanding the new rates and extensions

Stamp Duty Land Tax: Understanding the new rates and extensions

The Stamp Duty Land Tax (SDLT) holiday was launched to stimulate the property market and encourage growth in first-time buyers as a response to the drastic downfall in property transactions following the first lockdown period due to the pandemic. There have however been calls to amend this holiday to see tax benefit on contract exchange, rather than the current completion model following concerns over rising house prices trapping people into not being able to buy or even complete sales. Over 13,500 people signed a petition to push for this to change but were met with a firm stance of no change from the government quoting SDLTM07950 FA03/S44(5)(b), where a contract is considered substantially performed when the purchaser takes possession of property or at least 90%. Instead, the government’s solution was that as part of the Budget 2021 announcement, the Chancellor revealed that the current duration of the SDLT holiday was to be extended until 30 June 2021. After this period the nil-rate band (NRB) will be at a decreased rate until 1 October 2021 where it will then operate at its usual threshold.

 

What is SDLT?

SDLT is the tax that must be paid when you buy property or land, provided the value of the sale exceeds a certain amount in England or Northern Ireland. Scotland and Wales have different rates but will not be included in this article. There also exists some exemptions from paying SDLT, such as being a first-time buyer of a property or in situations where the property is changing ownership without payment. Generally, SDLT will be applicable to you if you buy: a freehold property, a new or existing lease, a shared ownership property or receive property for money. Regardless of whether a mortgage is taken out or cash payment is made SDLT may still apply.

 

The SDLT Holiday

Under the SDLT ‘holiday,’ the NRB for residential properties was increased from £125,000 to £500,000 and will end on 30 June 2021 after being extended from 31 March 2021 as part of the Budget 2021 announcements. After this date, the NRB will fall to £250,000 until 1 October 2021 whereupon the usual rate will then apply.

This could be seen as a breath of fresh air for those buying property first-time or otherwise, with reported savings up to £15,000 which would then tail off to £2,500 by September. Larger investors in real estate could also find some benefit from this as relief can be claimed on Property Redress Schemes (PRS), student accommodation and retirement homes; suggesting that the extension may have a positive effect on the property market as a whole.

Non-UK residents however should bear in mind that from 1 April 2021 a surcharge of 2% is to be imposed on all residential bands. This includes companies and other overseas entities.

The usual rates

The typical rates for SDLT on residential property is as follows:

Consideration (£) Rate (%)
0 – 125,000 0
125,001 – 250,000 2
250,001 – 925,000 5
925,001 – 1,500,000 10
1,500,001 and above 12

Note that these rates will resume from 1 October 2021. An extra 3% is also added for each threshold where additional properties of cost exceeding £40,000 are purchased.

Until 30 June 2021, the following temporary rates will apply:

Consideration (£) Rate (%)
0 – 500,000 0
500,001 – 925,000 5
925,001 – 1,500,000 10
1,500,001 and above 12

 

The following rates will apply in the period 1 July 2021 to 30 September 2021:

Consideration (£) Rate (%)
0 – 250,000 0
250,001 – 925,000 5
925,001 – 1,500,000 10
1,500,001 and above 12

 

First-time Buyer Relief is disapplied until 1 July 2021 where the current SDLT extension ends. This relief only applies on thresholds within the £500,000 NRB.

SDLT is usually handled by specialist agents or advisors, so you the buyer don’t need to worry about anything but what you owe for the purchase of the property. If you are unsure if you qualify for these reliefs or are a landlord seeking advice on taxes involved, feel free to contact us at info@wimaccountants.com or call us for a free consultation.

What is the Film Tax Relief and can I claim it?

What is the Film Tax Relief and can I claim it?

Filming is an expensive trade which probably does not come as a surprise to those involved with the creative industries. But there is a lifeline for those in the business via the government Film Tax Relief (FTR). No matter how small your business may be, this is something that will be of interest to you.

 

What is the FTR?

The FTR was introduced in January 2007 as a means to promote the British film industry. To date, there have been over 1,000 films that have benefitted from the FTR with total claims exceeded £1bn. As a result, this relief has been recognised as one of the main reasons many large film production companies choose to film in the UK.

This relief provides additional tax deductions for companies making profit and payable tax credit to those making losses. The FTR aims to mitigate the filming and other core costs that productions companies may incur in the interests of attracting British consumers.

 

So how does this tax credit work?

The main rundown is that you, as an independent or co-production, must provide evidence that your final work will be a British (very important condition) film by passing the BFI Cultural Test. More on this shortly.

When you apply for the FTR, the production company has to prove that the film in production meets the following criteria:

  • The film passes the Cultural Test, and thus qualifies as a British film. This test examines four key areas of the film: cultural content, contribution, hubs and practitioners. A film is required to score at least 18 out of 35 points to pass. For more information on the scope of this test and additional information, read the summary on the BFI website here
  • The film must be intended for public theatrical release in the UK. If the final film is released in any country but the UK, or is for private viewing only, it will be disqualified from the Tax Credit.
  • At least 10% of the core expenses of the film must be UK expenditure. In this scenario, core expenditure refers to what is spent on core processes, such as pre-production, principal photography and post-production. Development, distribution and non-production activities are not considered to make up the core expenses.

 

Unfortunately, if you have employees on furlough their expenses incurred will not count towards the qualifying conditions for the FTR, as HMRC considers a furloughed employee to have not worked in their furlough period.

 

What can I claim?

You can claim a cash rebate of up to 25% of the expenditure incurred within the UK.

The total tax relief you are awarded is limited to 80% of your total core expenditure. So if you spend £1,000 on your film you will have a payable tax relief up to £800. The cherry on top is that there is no cap on your budget and the amount of tax relief you can claim.

Additional deductions can also be claimed if you would like to reduce profits or increase your losses for a tax year in the interests of reducing Corporation Tax payable. Your losses can be carried back up to three years (if the trading period in question is between 1 April 2020 and 31 March 2022), but only for losses no larger than £2m. If a loss is made, part or all of your loss can be claimed for at the 25% rate (Core expenditure x 80% x 25%) and the additional relief is the lower of either:

  • 80% of the total core expenditure or;
  • The actual UK core expenditure incurred.

For example, your film incurs a core expenditure of £5m. If the entire expense was incurred in the UK, your claim would be for £4m. However, if only 20% of the expenses were in the UK the claim would be for (20% x £5m = £1m x 80%) £800,000.

 

How can I claim the Film Tax Relief?

You can claim the FTR using the Company Tax Return, where you must calculate the additional deduction and your payable credit due. You also need to provide the BFI Culture Certificate, the core UK and non-UK expenditure statements as well as a categorical breakdown of your expenditure.

Keep in mind that you cannot actually claim the relief until the culture test has been passed and you receive a certificate confirming this. In the event the film is still in production at the time of the test, an interim certificate is issued, with the final certificate awarded upon project completion.

 

This post only serves to provide a brief overview of the Film Tax Relief. If you are still not completely sure about the amount you can claim for your production, we would love to speak to you and provide our advice on this area of interest. Contact us here or call our Tax Specialist Naveed at 0741 4880 884 or mail naveed.ikhlaq@wimaccountants.com

Are you missing out on potential tax reliefs?

Are you missing out on potential tax reliefs?

What is tax relief?

Tax relief enables you to deduct the amount you pay to the government during a tax year from your tax payable to HMRC. Essentially meaning there is less tax for you to pay and we also call them tax reducers.

Tax reliefs can be claimed alongside any additional personal tax allowances you may be entitled to, allowing you to reduce your overall tax liability. There is a range of tax reliefs available which you can claim, subject to eligibility. This article will explore the reliefs that can be claimed through pensions and marriage allowances.

Typically, you can make arrangements with your employer to make payment before tax is deducted from your salary, so you save on tax as there is a reduced salary to be taxed on. You can also claim tax back from HMRC, usually in the case of charitable donations where you can also opt for Gift Aid.

You can also view the tax rates and allowances for the current and recent tax years here.

 

Tax relief on Marriage Allowances for basic-rate taxpayers

Married couples and/or civil partners can take advantage of the Marriage Allowance (MA). The MA allows individuals who are married or in a civil partnership to transfer a fixed percentage of their personal allowance to their significant other, by means of an election.

The amount that can be transferred to the receiving party is 10% of the personal allowance. Note that rounded up to the nearest £10. For example, 10% of the personal allowance of £12,570 is £1,2570 which will be rounded up to £1,260.

This is of particular benefit to a couple where one party has no taxable income, or their income is not enough to use their personal allowance. For example, an individual whose income falls entirely within the starting rate band.

If the MA is claimed by election, the relinquishing party has their own personal allowance reduced by the amount they transfer to the recipient.

The recipient on the other hand does not have their personal allowance increased and will remain at £12,570 for the 2021/22 tax year. However, the recipient does instead get a reduced tax liability imposed on them (or a “tax reducer”) equalling 20% of the transferred amount. For the tax year ending 5 April 2022, this tax reducer is computed at £1,260 x 20% = £252.

There are qualifying factors to determine whether the marriage/ civil partners can claim the MA, as follows:

  • The individual who is relinquishing their personal allowance and the individual receiving must be married or in a registered civil partnership for all or part of the tax year when the election is being made. The couple does not need to be living together.
  • The couple must not have claimed the Married Couples Allowance (an important distinction, find out more information on the MCA here. If the individuals qualify for MCA it is advised that they claim the MCA rather than the MA.
  • The individuals must have been married or in a civil partnership during the tax year in which they are making the election for and at the time the election is made. Claims can also be made after the death of one individual by the surviving party, provided that marriage/partnership was active at the time of death.
  • Importantly, neither individual is taxed above the basic rate bands. If any individual is taxed at higher or additional rates, they are not eligible.
  • The election must happen no more than four years after the end of the tax year which corresponds to the claim. The election does apply to all subsequent years until conditions are no longer valid or withdrawn. You can go back up to 3 years to use the MA and save up to £1,000.

 

Consider the case of Samantha and Ali, who are a married couple. Samantha has an income of £35,000 per year through employment, and Ali has an income of £9,500 per year.

Ali decides to make a MA election. His personal allowance for the 2021/22 tax year is:

£
Personal allowance
12,570
Less: MA transferred to spouse (max.)
(1,260)
Remaining personal allowance for Samantha
11,310

 

As we can see, Ali’s personal allowance after transferring MA exceeds his income by £1,810 which is wasted as personal allowances are not carried over to the next tax year.

 

On the other hand, Samantha will have the following tax liability on her income:

£
Employment income
35,000
Less: Personal allowance
(12,570)
Taxable income
22,430
Tax
Tax reducer: (£22,430 x 20%)
4,486
Less: MA (1,260 x 20%)
252
Tax liability
4,234

 

Tax relief on Pensions

Tax reliefs on pension contributions are available for up to 100% of the annual earnings. This means if you earn £30,000 annually, you can get a relief of £30,000 paid to your pensions in the same tax year.

This is however capped at £40,000, which is the designated annual allowance for pension savings. You may like to avoid exceeding this limit, as any amount over this cap will be taxed as income and will be taxed at the highest rate applicable to you.

Super high earners, such as individuals earning more than £150,000 are exempt from this pension annual allowance. Instead, the maximum that an individual can contribute is reduced by £1 for every £2 earned over the limit, capped at £10,000. This applies to you if you earn at least £210,000 per year.

Keep in mind that you can also carry forward any unused allowances from the three previous tax years, given that you were part of the pension scheme in those years.

Tax relief is also provided based on the type of pension you have:

  • Employer pension scheme
    • If you are part of a pension scheme provided by your employer, in the majority of cases your contribution to the pension is deducted from your salary pre-tax.
    • You are then subject to full tax relief on contributions at your highest tax rate immediately.
  • Personal/ Stakeholder pension scheme
    • The relief claim for this scheme operates different, as your premium is paid as a net of your basic rate tax. Your pension provider instead claims the balance from HMRC.
    • Non-taxpayers can still contribute to pension and get a tax relief of 20% on the first £2,880 set aside for pension. The remaining £720 is contributed by the government giving a total of £3,600 net gross contribution.

 

Claiming tax relief

There are two main methods of claiming tax relief, as the claim is dependent on the type of pension the contributions are being saved into:

  • Relief at source

Typically applies to private or self-employed personal pensions (SIPP). If the pension is paid through the employer, the employer takes 80% of the contribution from salary, with an extra 20% being provided by HMRC.

In this system, higher and additional rate taxpayers must complete a Self-Assessment for extra relief.

  • Relief from “net pay”

In this case, the tax relief is claimed automatically and considered to be relief from “net pay”.

Contact us for more information on how you can claim tax relief as a basic-rate taxpayer.

May 2021: Updated HMRC guidance on COVID support

May 2021: Updated HMRC guidance on COVID support

Agent Update: Issue 84 provided useful insight into the latest guidance and changes HMRC have implemented over the recent months to help mitigate the financial damage caused by the pandemic to businesses. Below is a summary of the points which caught our eye and may have usefulness to agents and advisors.

CJRS

Currently, the UK Government is paying 80% of furlough employees wages for unworked hours, capped at £2,500 per month. However, by July 2021 this rate will decrease to 70% to a cap of £2,187.50. This rate will again fall to 60% in August and September 2021 to a cap of £1,875. 

Please note that with the introduction of the 70% rate, employers will have to pay the difference of at least 80% on unworked hours, capped at £2,500.

The deadline for CJRS claims for May is 14 June 2021, and can be claimed before, during or after a client’s payroll had been processed. Knowing the exact number of hours the employees work is important to avoid further processing and amendments. Clients should also ensure to pay employee tax and NIC, else they will have to repay the entirety of the CJRS grant they claimed back to HMRC.

HMRC also have a handy tool to help calculate how much you can claim from the CJRS, which can be found here.

SSP

The Statutory Sick Pay Rebate scheme is continuing to provide financial support to SMEs. Businesses (with employee numbers less than 250) who have paid SSP to employees for COVID-19 related sickness may be entitled to support. The rebate covers a maximum of 2 weeks of the appropriate SSP rate.

VAT deferral payment scheme

A new VAT deferral payment scheme is now available to all businesses that deferred VAT from 20 March 2020 to 30 June 2020, they must also have not been able to pay in full by 31 March 2021. Luckily, these payments can be made in instalments. Note that the later a business signs up to this scheme, the fewer instalments they can make:

  • Join by 19 May 2021 – 9 instalments
  • Join by 21 June 2021 – 8 instalments

Businesses must also have a VAT registration number, a Government Gateway account, submitted outstanding VAT returns in the last 4 years, be aware of what is exactly owed and correct errors on VAT returns (if any).

A 5% penalty and interest will be imposed on businesses that fail to pay or sign up by 21 June 2021, so encouraging your client to sign up is highly recommended.

WFH Tax Relief

The golden rule when claiming expenditure set by HMRC is that the expense must have been incurred “wholly, exclusively and necessarily”, and for those working from home expenses claimed are not exempt from this rule. Employees working from home can claim tax relief on additional costs, such as metered water, heating bills or business calls but the employee must prove that this expenditure satisfies the aforementioned rule. Note that costs that would remain the same had the employee worked in the office are not eligible. Relief for these claims is open until the end of the current tax year, 5 April 2022.

R&D Tax Credits in the Food and Drinks Industry

R&D Tax Credits in the Food and Drinks Industry

We all love food and beverages, even more so when there’s something new on the block. Luckily for those of us in the UK, the food and beverage industry is one of the largest (approximately £29bn contributing to the UK economy) so there is a huge investment in research and development to make products taste better, preserve for longer and have better nutritional content. The development process is not limited to just food and drink only, as advancements in manufacturing technology, marketing and even sourcing contribute to R&D activities in the food industry. 

What can I claim tax relief for?

There is a multitude of work done that may qualify for an R&D Tax Credits claim, such as:

  • Creating or developing new flavours or ingredients
  • Enhancing nutritional content
  • Improving taste or texture
  • Making new samples
  • Creating healthier alternatives
  • Developing more sustainable packaging and logistics
  • Thinking up of methods to reduce costs

Unfortunately, despite this list only listing a few of the large number of possible reasons to claim an R&D tax rebate in the food & drink industry, many business owners and individuals are not claiming and are missing out on crucial funding to improve their cash flow. An owner of an SME may want to take particular notice of this.

What types of expenditure qualifies for R&D Tax Credits?

Companies tend to spend a sizeable amount on improving existing/prospective products, refining processes and product lines, as well as additional expenses for packaging, marketing, salaries, ingredients etc. R&D Tax Credits can aid in mitigating these costs by up to 25% and help you continually develop your products further. 

How can I make a claim?

Claiming R&D Tax Credits isn’t easy with many areas of uncertainty. Don’t worry, our team of R&D tax advisors will assist you in constructing high quality, accurate claim that stands up to HMRC interrogation.

As long as a technological or scientific variable is being investigated during your project, usually involving financial risk, R&D Tax Credits are certain to follow. Firstly, we can help you identify all the relevant costs, and to adjust them correctly. We can then put together a detailed, appropriate case, and work on your behalf with HMRC as well.

Why not have a look at our R&D Tax Credits page for more information about how this highly valuable tax incentive could boost your food and beverage company. When you’re ready to make a claim, get in touch with us to get the process started.

WIM Accountants are here to help businesses with their accounting and taxation needs.

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