Are you missing out on a tax-free payment from the government? R&D tax credits allow you to offset the cost of R&D activity against your tax bill and also receive a cash lump sum on top. If your business is eligible, you could receive a payment from HMRC within 28 days of making a claim.
We have helped our clients to save almost £1 million in tax with successful claims for R&D tax credits. With an average £11k saving client, this could provide a much-needed income boost in what is a challenging period for many businesses.
R&D tax credits – Key facts
- Claim tax relief of up to 130% on any expenses related to R&D including materials and labour costs
- Back-date claims in the first year to cover three accounting periods (effectively three claims at once)
What counts as R&D?
- Activity leading to the development of a new product, service or process
- Activity leading to the modification and subsequent improvement of an existing product, service or process
How we can help
As part of our Business Consulting service, we can assess whether your activity qualifies as R&D and assist you in submitting a claim. This includes the preparation of a comprehensive technical report to substantiate the claim.
- Your business has spent money on R&D activity
- You are registered as a company not an individual
Note: You do not need to have made a profit to qualify
Call Tony Backhouse on 07969 900864 for a 5-minute conversation to find out whether you may be eligible to make a claim.
Learn more about R&D tax credits here.