Can I claim?

You would be surprised how many companies fulfil these criteria – between 150,000 and 200,000, in fact!

If you are one of them, then make sure that you are not missing out on these significant tax benefits.

Unlock your R&D tax credits – call us on 07748 841200 or email, it could save you £1000’s!

Are you claiming your R&D tax reliefs?

Research and Development tax credits and reliefs are fiscal incentives from the government to businesses that contribute to the economy by way of scientific or technical advances. Depending on the size of your company, there are a number of different qualifying processes and ways of claiming.

Contrary to common belief, R&D tax reliefs have been around for many years, in one guise or another and we have been working with companies to maximise the benefits to which they are entitled for over 15 years, with an enviable success rate which we have built up over all that time and of which are fiercely proud. In more recent years, HMRC has introduced a process called R&D Advance Assurance and we have worked on these with many clients with equally impressive success. Advance Assurance means that, if HMRC agree that you are engaged in R&D activities, it will undertake to pre-approve your current and future claims without challenge for the next three years.

As with all our services

we remain true to our commitment to work with our clients – not for them. In order to properly understand and get the most out of the claim, we need to fully understand what our clients do. We can only do this by working closely with you through the claim, from start to finish. We are confident that you won’t be disappointed with the results – or our rates which are significantly lower that most!

Claiming your R&D tax benefits

If you are already claiming R&D tax relief, you are certainly in the minority.

It has been estimated that, of the 150,000 to 200,000 companies which are eligible for these reliefs, only 20,000 actually do claim.

That’s just 10% – 13%! We will start your claim by simply asking you to answer five questions.

Once you have done this, we will collaboratively drive the process forward with you informed and consulted at all stages.

Qualifying for R&D tax benefits

If you qualify, you could take advantage in one of two ways. First, if you are making profits, these can be reduced for tax purposes by 230% of your R&D expenditure. In effect, this means that you are making a corporation tax saving of £25 for every £100 spent on R&D. Secondly, if you are loss making, you can exchange this claim for enhanced R&D expenditure for cash – 14.5% of your R&D losses.

HMRC view various costs as being R&D expenditure, but in the vast majority of cases the main cost will be Staff Costs – probably one of, if not the, biggest cost of any business. So, the benefits soon start to become significant! Briefly, R&D activities are those which seek to achieve an advance in overall knowledge or capability in a field of science or technology through the resolution of uncertainties.

So, if someone asks you to, or you are looking to, produce something and you don’t know immediately how to achieve that product or service, you may have the required uncertainties. Your work required to answer the question ‘can this be done?’ is the resolution to those uncertainties.
Finally, the resolution which you seek cannot be ‘readily deducible by a competent professional in that field’. In practice, you can read that as meaning that you can’t just ask someone how to do it. If they already know, then that cannot be R&D in the HMRC’s opinion.

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