IT R&D Tax Credits
The IT sector in the UK is worth around £180bn to the country each year. The industry is outpacing many other sectors in the UK. In 2018 , the IT sector in the UK grew by 4.5%, compared to 1.8% growth experienced by the country’s GDP as a whole. The nature of the IT industry means there are many opportunities for companies to benefit from IT R&D tax credits. New products and processes are constantly being developed. Software updates, cloud storage and methods of home working are just some of the developments that can be funded through IT R&D tax credits. At RandD Tax, our team of highly skilled tax consultants are available to ensure your business is claiming all the IT R&D tax credits you are entitled to. We are here to simplify the whole process, ensuring you claim is sent to HMRC as quickly as possible, and that you get your funds. Where IT R&D tax credits take the form of a direct cash payment, or a reduction in corporation tax, they can be used to fund many different expenses that are connected to developing new products or processes. This includes:
- Staff costs
- Software expenses
Can I claim IT R&D tax credits?
At RandD Tax, we offer a FREE ASSESSMENT, so you can quickly find out if you are eligible to make a claim. As we operate on a no win, no fee basis you can make a claim through RandD Tax at no risk to your business.
If you aren’t sure if you are eligible to claim, the best thing to do is to contact us. Our tax consultants are always on hand to answer any questions and take you through the claims process.
On the simplest level, your business will be able to claim tax credits if:
- It is a limited company, subject to corporation tax
- It takes part in researching or developing new products or processes - or improving existing ones
- It spends money on these projects
Our experienced tax consultants will be able to take you through the entire claims process, from identifying if you can make a claim and choosing the correct scheme to claim under all the way through to your final payment.
Whether you are a small IT firm or a large corporation you could be eligible for R&D tax credits. Our experienced tax consultants have worked with all sorts of companies, across many different industries. We have the skills and knowledge to ensure your claim is processed and funds released as quickly as possible, so that you can continue developing cutting edge products.
How to claim IT R&D tax credits
Claiming R&D tax credits directly through HMRC can be a long and complex process. That is why RandD Tax are here to help.
We will take on the claims process for you, so you can continue to concentrate on developing new products, rather than chasing funds to put towards them.
Our no win, no fee promise means there is no reason not to start your IT R&D tax credits claim with RandD Tax.
Contact RandD Tax today to find out more.
Get in touch today regarding IT R&D tax credits