R&D Tax Credits

How R&D Tax Credits Work

R&D tax credits are available [subject to eligibility] to small and medium enterprises with up to 500 employees. The business must be a UK registered limited company. R&D tax credits are also available for larger businesses, we can help with these too.

There are no restrictions on the type of business that can claim R&D tax credits, providing the company is a UK registered limited company. R&D tax credits are about the activity and special projects the company is engaged with. For example a non tech company may launch or integrate an innovative or technically challenging element to their business. Perhaps integration of a new CRM, finding a new way to make something more efficient. Critically, you do not need to be creating space rockets. Simply, making things better and easier for your business – which involved technical challenges for you and your team. They keyword is: challenge. 

The last 2 open tax years. And ongoing too in most cases.

Our typical R&D tax credit is worth a handsome £56k. The tax credit can be applied as a reduction in your corporation tax, or you can take a cash sum[this will be slightly less].

Your accountant will be busy with their regular work.

R&D tax credits requires a specialist technical analysis of the work that you are doing. This includes a forensic narrative, with supporting documents, often drawing on experience from our existing bank of clients. All data and analysis is used to evidence your case; making sure it fully complies with HMRC tax credit guidelines.

Peace of mind: If there are any queries from HMRC we are well equipped and prepared to answer them based on thousands of cases and years of experience.

Your accountant will help support the claim with accountancy documents, whilst we prepare, analyse, present and answer any HMRC questions. In all cases we aim to maximise your claim. And because we have thousands of existing clients we can do this with confidence, your accountant simply won’t have access to that level of evidence based detail – which can in turn affect any claim that you may try to make. Further more if we make an R&D tax credit claim for you in the future, the difference in the value of the claim can be significant, this may trigger extra queries from HMRC.

We love working with accountants and work alongside thousands of accountancy practices.

Together we can optimise the clients’ claim and satisfaction.

If you are an accountant, by all means contact us here.

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