Director Ian Brown has worked for the last six years as an independent consultant helping businesses save money through tax utilising legitimate allowances the Government grants.
Thorne Brown Consulting Ltd will be working predominantly with Inspire and its members, and is the only Inspire partner that specialises in identifying capital allowances and research and development tax credits.
In terms of Research and Development savings, Ian can help identify activities that are taking place within a business that qualify for tax credits. It is thought that only around 1 in 5 companies that
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are eligible claim and yet the average credit for those that do is almost £ 50,000. Ian said:“ Many businesses are working on bespoke software, food production, business research, manufacturing and many other technological advances without guaranteed outcomes. It’ s these firms I want to talk to and work with, to help them save on their bottom line, releasing cash flow to spend on further development and growth.
Businesses and individuals can save with capital allowances. The Government wants to incentivise businesses to invest in plant and machinery and although a lot of what
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goes into a property can’ t be classed as this, certain items can. Ian’ s team specialises in teasing out what qualifies as plant and machinery, things that qualify include central heating, air conditioning, data cabling and bathrooms. Making a successful capital allowances claim draws together surveying, accountancy and legal interpretation skills which mean most claims are constructed by specialist consultants.
Typically, 27 % of a properties purchase price could be offset against corporation or income tax giving substantial reductions in the amount payable over a number of years. Recent legislation changes make
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it crucial to take advice if considering a purchase. Thorne Brown Consulting charges a percentage fee, depending on the result achieved for the client with the aim that the client saves more than the fee in the first year.
Thorne Brown Consulting has strong relationships with many professional practices but as a partner looks to help Inspire members direct to ensure they are receiving the best possible advice.
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For more info: www. thornebrownconsulting. co. uk |