Finance R&D Tax Credits
The financial services sector is hugely important to the UK economy. In fact, it generates around 7% of total UK tax receipts alone, and employs nearly 4% of the total UK workforce.
While much of the financial sector is centred in and around London - where half of the industry’s output is generated, many cities across the UK have large financial centres.
And there are significant research and development projects in the financial sector, from the development and support of banking apps, through to mortgage applications via video-chat.
If your business is involved in developing any of these new products or processes, you could be eligible for financial R&D tax credits.
These tax credits can help to remove the financial burden of developing new processes, helping your company to innovate and attract new investment.
Depending on your individual circumstances, financial R&D tax credits can take the form of a direct cash payment or a reduction in corporation tax. Either way, this can be used to fund:
- Staff costs
- Software expenses
Can I claim finance R&D tax credits?
Almost any business in the financial sector, regardless of size, could be eligible for R&D tax credits. If you are unsure if you are able to make a claim, the best thing to do is to contact us.
The team of tax consultants at RandD Tax will be able to identify if you can make a claim, and what scheme you should claim under. We offer a FREE ASSESSMENT and operate on a no win, no fee basis. There is no reason not to claim through RandD Tax.
We have helped hundreds of businesses, of all sizes and sectors, claim the R&D tax credits they are entitled to. We will be on hand to answer any questions you may have as we guide you through the whole process, from the initial assessment through to your final payment.
You will be able to claim finance R&D tax credits if your business:
- Is a limited company, subject to corporation tax
- Takes part in researching or developing new products or processes - or improving existing ones
- Spends money on these projects
Our experienced tax consultants will get your R&D tax credits claim processed as quickly as possible, so there are no delays in receiving your incentive from HMRC.
How to claim finance R&D tax credits
Even if you have experience in the financial sector, claiming R&D tax credits directly through HMRC can be a long and complex process. This is where RandD Tax can help.
By choosing RandD Tax, you can be sure your tax credits claim is in safe hands, allowing you to concentrate on the running of your business.
Contact RandD Tax today to find out more.
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