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R & D Tax Relief Claims Increase

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R & D Tax Relief Claims Increase

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.

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