Research & Development Tax Credits – What Are They And How Can You Claim Them?
If your company makes innovative use of science or technology to develop or significantly enhance products, services or business processes, you may be entitled to claim research & development tax credits to help offset some of the costs of your investment.
Even the UK government admits that too many companies are missing out on claiming their tax incentives for research and development. This is surprising given that the tax incentives for research and development have now been in place for over ten years – they are specifically designed to promote more investment in R&D by UK companies and the benefits can be significant, but what are research and development tax credits?
Get ready to make your claim a success by:
- understanding what is R&D and what is not
- deciding whether you are eligible to claim research & development tax credits
- keeping up to date with changes to the tax incentives for research and development.
The legislation and regulations are quite well constructed but sometimes it might be faster and more efficient to seek expert input to check whether you are eligible to make a claim for research & development tax credits and to ensure your claim for research and development tax credits is well constructed.
Listen to Terry answering 13 key questions on What Are R and D Tax Credits? – in our videos
Contact Terry on 07957 143 432 for an informal chat to see whether you could be eligible to receive tax incentives for research and development. This could be for R&D that you are planning or currently undertaking, or for R&D projects that you have undertaken in the last two completed financial years.
The typical activities that our clients ask us to help with include:
- Analysis of projects to identify work that qualifies.
- Helping to identify scientific and technological advances and scientific technological uncertainties – an essential part of qualification.
- Scoping of projects to understand which costs qualify.
- Writing Justification Documents to support claims.
- Helping with claims that may be meeting resistance on grounds of qualification.
- Saving time and increasing certainty of successful claims.
Over the last seven years Terry has helped more than 70 companies successfully claim in excess of £4m in research & development tax credits relating to more than 400 projects.
Terry has a 100% success rate on all the claims he has compiled on behalf of clients. Read our client testimonials to find out how they have benefited from tax incentives for research and development or call Terry now on 07957 143 432 to see if you are eligible to claim research & development tax credits.
