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3 Keys to Start your R and D Tax Claim Today

Date: 19th March 2014

Are you thinking that the extensive tax savings via research and development tax credits are worth pursuing? Then it’s the right time to claim for R&D tax relief. R&D tax credits can be successfully claimed by UK companies across all industry sectors – from builders to engineers and manufacturers to technology firms to, of course, R&D companies.

Three keys to making a successful claim for R&D tax credits:

  • Identify Whether Your Company Qualifies for R&D Tax Credit
  • Identify cost qualifying factors
  • Make contact with an expert R & D Team

Company Qualifies for R&D Tax Credit

Do proper research to find out whether your company qualifies for R&D tax credit or not. To qualify R&D tax credit, the company should justify any of the following criteria:

  • Develop an innovative product that is new to the market.
  • Experimenting with new material and integrating the material to improve manufactured products
  • Developing and modifying research methods / formulations / products
  • Paying outside consultants / contractors to do any of the above activities

Identify R&D cost qualifying factors

  • Labour costs for Research and Development work
  • Employees and Material Costs
  • Subcontracted R&D Expenditure

Make Contact with an Expert R & D Team

  • Once you decide whether your company qualifies for R&D tax credit, get help from professional R&D consultant team to make your claiming process smooth and easier.
  • R&D tax credit relief consultants help recognize, identify and scope R&D work your company has done and complete successful R&D tax claims of your accounts.

If you are paying 20% or more as tax credit, RandDTax can help to dramatically reduce your claim costs. For more, visit RandDTax

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