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Where Taxpayers and Advisers Meet

Claiming wind tunnel expenses?!

Mrmagica
Posts:1
Joined:Tue Nov 29, 2016 12:34 am
Claiming wind tunnel expenses?!

Postby Mrmagica » Tue Nov 29, 2016 12:41 am

Hi All. Relatively recent LTD company, we develop sports products for skydiving. Skydiving and wind tunnels are part of product development, coming up or improving designs. Is this tax deductible? They are quite steep expenses! Could be looking at anywhere upto £12,000 a year. Obviously important to get this right and will talk to an accountant but it's nice to do some research first...

many thanks

amingram
Posts:18
Joined:Fri Nov 28, 2008 1:47 pm

Re: Claiming wind tunnel expenses?!

Postby amingram » Thu Feb 02, 2017 10:28 am

Hi

I can see no reason why the wind tunnel expenses would not be tax deductible in your case (I am assuming these costs relate to you hireing time in a wind tunnl as opposed to having your own wind tunnel).

On a side note, have you looked into the R&D tax credits regime? You may well be able to obtain fairly significant financial support (via reduced tax payments) for the work you are doing on product development.

If you'd like a free no obligation chat, please get in touch.

Mark Ingram CTA
Director Wesram Ltd
www.wesram.co.uk


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