By Ray Bradnock, Specialist Tax Consultant at Catax
Well, here we are just creeping into the new decade, and I find myself transported to the west of Canada, and the snow-covered wonderland that is Vancouver. It might be news to you that we have clients out here on the northern American continent, but we can help them too!
The R&D Tax Credits programme that is in place here is officially called “Scientific Research and Experimental Development”, known as SRED (pronounced “shred”). I have already visited several organisations on a prior trip (as have some colleagues) and managed to uncover potential benefits to the tune of several hundreds of thousands of Canadian dollars. This can really help some growing corporations and traders to benefit from the working capital injection they so badly need at their stage of life, and to achieve exactly what the Canadian government intended when the first programme was introduced in 1944.
My trip so far has seen me have an early start and a late finish to visit a few airports and car rental agencies, arriving in good heart for the weeks ahead. The snow was “evident, but contained”, as you can see from my pictures of the journey from the airport and the view from my hotel’s 5th floor restaurant at breakfast this morning.
I already have meetings set with people who deal with R&D in chocolate, cheese, cannabis, beer, financial services, affordable food technology, concrete, and anti-opioid drugs. There will be more to come and, as you can see, there really is no limit to where R&D might be identified across a diverse society. I look forward to seeing where the rest of my trip takes me!