Tax Rebates & Refunds

Travel companies could be missing out on millions in tax rebate claims

March 15, 2013
Posted in Tax Rebates — Written by Chris

According to a leading industry accountant, travel companies in the UK could be missing out on millions of pounds by not claiming the national insurance and corporation tax rebates they are owed.

Andrew Burnham, the head of travel and tourism for MacIntyre Hudson, said that travel firms should particularly be looking to claim tax back on anything they spend on IT research and development, which can be a considerable amount for many companies in this sector.

Mr Burnham, who is due to address a business travel seminar in London this week on this subject, speaking alongside colleague and VAT specialist Damon Wright, said:

“Any sort of investment in technology should be eligible [for a rebate]. A small tour operator could be spending £100,000 – an online travel agent £1 million.”

Travel firms could be able to claim tax rebates for investments made in the last two years, so there is a considerable amount of money available if companies are able to get their tax refund claims in on time. For businesses struggling in a still unstable economy, a sizeable tax rebate could come in incredibly handy.

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