Latest news from Heavy Lift & Project Forwarding International Magazine

UK logistics firms miss tax breaks

August 21 - UK headquartered business advisory Baker Tilly says that smaller transport and logistics firms operating in the UK may be missing out on tax breaks resulting from research and development (R&D).

The latest figures from HM Revenue and Customs (HMRC) show that the value of tax breaks claimed by companies investing in R&D has tripled in the last decade to GBP1.2 billion (USD1.88 billion). However, only 135 claims for research and development tax relief were made by SMEs in the transport, storage and communications sectors, totaling GBP5 million (USD7.83 million), a tiny fraction of the GBP420 million (USD657.76 million) claimed by SMEs across all sectors.
Any company eligible can deduct up to 225 percent of qualifying expenditure when calculating profit for tax purposes, says Baker Tilly.
The kinds of activities undertaken by logistics firms that might qualify for this relief include; investment in process improvement; investment in software: and overheads associated with R&D operations.
"There are likely to be many firms in the logistics sector who are unaware that they may qualify for this type of tax relief. Claims can even be backdated for up to two years, so for companies struggling with cash flow difficulties, this relief can provide a much needed lifeline," says Tony Summers, Baker Tilly's head of transport and logistics.

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Marine insurance: Reducing costs and capacity thumbnail image

Marine insurance: Reducing costs and capacity

September 19 - Marine insurance providers are commoditising their products in order to reduce costs. The result, according to the International Union of Marine Insurance (IUMI), is a loss of expertise.
Views: 346
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 734
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DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 844
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 593

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