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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 this is you or your business, then you really should check your R&D tax credit eligibility. It’s quite easy to find out, quick to do and will cost you nothing. 

How do I check my R&D tax credit eligibility? 

That’s easy. Most R&D tax specialists make no charge for an upfront assessment. It’s usually just a 10 minute conversation on the phone, better still with your website URL to hand. All you have to do is call one…

What happens next?

Again, reputable R&D tax specialists will make no charge to advise you on your potential claim value.

They earn their fee only once you actually decide to go ahead and require support in interpreting HMRC regulations. They’ll help you to justify your claim in writing and to maximise the total value and, since their fee is often contingent on success, it’s a low risk process.

What does it cost?

A competitive rate is around 18% of the successful claim value. More than that and you should be cautious. Some R&D tax specialists charge much more, often because they use their own accountant. That adds to the cost and it’s just not necessary. Usually, you can ask your own trusted accountant to submit the claim for you.

According to HMRC, the average SME claim last year was £43K. That goes straight onto the bottom line…..

Checking whether you can claim is quick, painless and costs nothing.

Jaime Lumsden, Director

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