Blog

Why should I use an R&D Tax Consultancy?

Date: 20th March 2017

The Self-assessment trap As the Director of RandDtax responsible for compliance I require a meticulous outlook and attention to detail which can lead people’s eyes to glaze over and cause a degree of irritation. One of the things that really irritates me, and sets me on edge, is when I hear someone talking about their R&D claim being “approved” by HMRC. It is crucial to understand in a self-assessment world that the processing of a claim or paymen...
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R&D Tax Credits in the 2017 Budget

Date: 8th March 2017

The government continues its commitment to the R&D scheme. “As I committed at the Autumn Statement, we’ve reviewed, with business, our R&D tax credit regime and concluded that it is globally competitive. But to make the UK even more attractive for R&D we have accepted industry calls for a reduction in administrative burdens around the scheme and will shortly bring forward measures to deliver them.” Chancellor Philip Hammond, Budget Speech 20...
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RandDTax

Date: 8th February 2017

THE ENTERPRISE AWARDS 2017 "The Oscars of the Technology Industry" Wednesday 14 June 2017  The Dorchester, Park Lane, London in association with the Worshipful Company of Informatio...
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R&D Tax Credits – Are you claiming your full entitlement?

Date: 21st December 2016

The Average SME claim, as stated by HMRC in their latest released stats covering the fiscal year to end March 2015, is just over £43K We are constantly surprised when SMEs tell us that they have claimed R&D Tax relief, or rather that their Accountant has claimed for them, and that the amount is much less than this. When we ask “how did you calculate this figure?”. the answer is a quick 5 minute conversation with the Accountant, finger in the air and a guess...
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I’m a website designer business – Can I claim R&D Tax Credits?

Date: 21st December 2016

Well here’s how you can tell First, ask yourself a few quick questions:   Web based application software? Check out your claim… Do we spend time designing web based applications rather than just creating websites? Do we...
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Developing software – Can I claim R&D tax credits?

Date: 13th December 2016

Well if your software based products or solutions are innovative, then you might be remiss not to check!   Designing software based solutions? Claim R&D tax credits now. Do you employ software developers? Does the work that they do require testing...
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Manufacturing transducers or wound components – can I claim R&D Tax Credits?

Date: 13th December 2016

Almost certainly yes.  Just ask yourself these questions… Do I apply science or technology in my transducer designs? Make transducers or wound components? Check your R&D Tax eligibility… Do I try to keep my transduc...
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I’ve already received R&D tax relief. Have I under claimed?

Date: 8th December 2016

R&D Tax Credit specialists see it all the time. One line in the tax computations for £20K or so. No justification and no real understanding of what costs qualify……. A correctly prepared claim requires a technical analysis of your business and how you’ve stayed competitive over the past two years. It’s not about rocket science but rather about identifying the qualifying advances in your products or services.
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I’m an Engineering Business – Should I be claiming R&D Tax Credits?

Date: 8th December 2016

Maybe you design and assemble machines used by your customers.  Could be machine tools, cutting machines, equipment for fabricating, all sorts of stand alone production apparatus…… The questions to ask are: Do I design innovative products? Do I employ technical staff? When I design or improve my products, is there some uncertainty about how best to do this? Do I spend money on turning my ideas into equipment? If t...
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We’re a Professional Firm and we paid a subcontractor to develop an IT solution for us. Can we claim R&D Tax Credits?

Date: 30th November 2016

You don’t have to be a technical business to be eligible for an R&D Tax rebate or credit. You could be a Debt Collector or a Bailiff Firm or an Accountant or a Solicitor or an Insurance Broker……but if you have commissioned a subcontractor to develop a unique IT, internet or intranet solution to improve your processes, then you may well qualify for a tax rebate.  The HMRC rules are clear. For a R&D Tax Credit claim, the following should apply:...
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