R&D Tax Credits
Bradford
Bradford has a growing economy, driven by a young population and a strong culture of entrepreneurship. Industries such as financial services, manufacturing and the creative arts are particularly important to Bradford. These sectors are at the forefront of technological innovation. Business in these sectors are most likely to benefit from R&D tax credits.
At R&D Tax, we have helped hundreds of business with R&D tax credits claims, helping to fund innovation and development in their company.
If your company develops new products, or works to improve existing ones, you could be eligible to make an R&D tax credits claim.
Our experienced team of tax credit consultants are on hand to guide you through the claims process. We will identify what you can claim for, how much you may be able to claim, and what schemes will be most appropriate to claim under.
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The short answer is to contact us!
These 3 questions to help guide you on whether your project qualifies for R&D tax credits;
- Does your company develop new products, processes, services or materials, or develop science and technology to enhance existing ones?
- Does your company set out to achieve an advance in scientific or technological knowledge or capability?
- Does your project involve and technical or scientific uncertainty that a professional in your field cannot readily resolve?
If your project can answer yes to all these questions then it’s worth investigating further if you have an R&D claim.
Each ‘cost’ has specific rules around the correct treatment. However, some notable costs you can claim R&D credits include; staff costs, software, consumables and sub-contractors.
Yes! Explore our claims calculator to discover how much an R&D claim might be worth for your company.
Yes, the SME scheme allows loss making companies to claim and have the choice of either a payable R&D tax credit or carrying a loss forward.
HMRC do not have a KPI for claims involving tax relief, payment times depend on the processing speed of your Corporation Tax Office. These are generally good, and 4-6 weeks is not untypical. For an SME payable R&D Tax Credit the KPI is 95% in 28 days. HMRC, in recent years, 2018 & 2019, have not been achieving this and claims have been taking 12-16 weeks to get paid. No KPI exists for RDEC and recent processing has been very slow.
Get in touch with our regional consultants for a free assessment.
Our expert advisors have wide experience and knowledge in R&D tax claims. Get started today with our Free Assessment or find out more about how you can claim R&D tax credits, if your company is eligible, how much you can claim and much more.
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Alan Cook
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