Expert R&D Tax Credits Advice from RandDTax

Expert R&D Tax Credits Advice from RandDTax

We have helped over 1,050 clients gain more than £97 million in benefits in the last six years.

The graphs below from the latest ONS statistics, September 2018 shows the impact of the scheme and it's growth.

 

 

 R&D Tax Credits Explained

An R&D Tax relief claim enables a profitable company to gain valuable tax relief or a cash repayment of tax already paid, or loss making companies a cash R&D Tax credit.

This can be transformational for businesses, and not claiming while competitors are can make a company uncompetitive. Accountants often lack the experience to correctly advice on R&D claims, and often fail to raise the issue with companies, so it is well worth the time to talk to a specialist.

R&D Tax Relief / Tax Credits

  • R&D Tax Relief is available to UK Ltd companies, using science or technology as part of an innovative process/product.
  • There are two variants of the scheme – large company and small company, with the boundary being 500 employees in the company or group of companies, plus turnover and balance sheet levels you should discuss with us. Small companies that have received subsidies or grant funding may need to use the large company scheme.
  • The small company scheme is more beneficial – paying the company upwards of 19% (typically 26%, maximum 33% depending on taxable profit/loss) of qualifying R&D cost. The large company scheme typically benefits by 8-9% of R&D cost.
  • Claims may be made retrospectively, up to the 2nd anniversary of the end of company financial year. So the cash injection can be significant within a relatively short period of engaging with us, typically 6 to 8 weeks.
  • The essence of the scheme is the question "what is qualifying R&D?", and this requires discussion with a company on a case-by-case basis. The scheme applies equally across any industry using science and/or technology.

Our Service

  • We assist clients in identifying, scoping and preparing R&D claims, which then become part of the tax computation and tax return submitted to HMRC.
  • We prepare technical and claim figures documents.
  • Our approach is tried and tested. We aim with minimal disruption to your business to help you gain what you are entitled to.
  • Experience and knowledge is essential in making successful claim, we have a 100% success rate, and are proud to have helped many SMEs grow through the increased funding our advice has helped secure. CONTACT US TODAY.