As you may be aware, we deal with R & D Tax claims for both clients and non-clients alike. This is the single biggest funding mechanism for small business investing in innovative projects.
Typical R & D projects include: -
· Software development
· Engineering design
· New product development
· Solving manufacturing problems
· Developing new processes
However, it is indicated that 90% of eligible businesses are unaware that they can claim. When you make a claim you can decided whether you would like a tax credit, to offset against future profits, or a tax refund
The majority of the 30,960 tax credit claims made were to small to medium enterprises. The total reclaimed so far is £3.5 billion. Quite often when these claims are submitted any tax rebate would be paid and settled within 28 days.
There are companies that will carry out claims for a percentage of the tax credit received (not necessarily the cash received). However we carry this out on a fixed hourly rate, which in all cases, so far, have worked out much cheaper
If you have any questions regarding this, please do not hesitate to contact us.