Blog

Have I under claimed for my R and D tax relief?

Date: 12th March 2013

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. Under claimed R&D tax credits ca...
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We make Control Panels – should we be claiming R&D Tax credits?

Date: 5th March 2013

OK so you assemble control panels or systems or switchboards? You probably design bespoke solutions for different applications. Possibly trying some of the latest control devices to improve safety or performance or just space? Each solution may require its own software, maybe subcontracted out. Then you have to trial or test the system to make sure it performs to spec. There are always a few uncertainties too overcome. Sometimes you might have to be involved in the integration o...
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R&D Tax Credits for a Test and Measurement Manufacturer

Date: 18th February 2013

I’m a Test and Measurement Manufacturer – Can I claim R&D Tax Credits? You certainly can! Especially if you are routinely seeking ways to improve your products. Ask yourself the following questions. Do you make test equipment? - then check your R&D tax credit eligibility now. Do I manufacture test Instruments, cabinets, mechanical NDT equipment, electronics, electrical, mechanical, chemical or physics based systems?Do...
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Why year-end is so important for R&D Tax Credit claims

Date: 14th February 2013

Well, it’s all about maximising your first claim. You’re allowed to claim for your past two full years but, as soon as you slip over your current year-end, then you forfeit one of these. Very typically, an R&D Tax credit could be worth £40k to an SME (This is the average claim size according to HMRC). By not claiming in time, you could easily lose half of this. What a waste!…..and just because you procrastinated. How does it work? Let&r...
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Should a Bespoke Engineering Business be claiming RandD Tax Credits

Date: 5th February 2013

We are often asked should a Bespoke Engineering Business be claiming RandD Tax Credits? If you’re not already claiming R&D Tax credits, then check this article out. If you are claiming, or rather your Accountant has claimed a nominal amount on the year end accounts, then look below – you could be seriously under-claiming and leaving substantial cash on the table… Many Bespoke Engineers are claiming R&D Tax Credits – shouldn’t you?
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R and D Tax Credits terminology

Date: 31st January 2013

We are often asked about the terminology surrounding R and D Tax Credits and understanding terms and definitions involved when tax planning could be critical to your business and Research & Development taxation is one of these areas to review. If you are developing products and processes they may be eligible for significant payments of cash through the Research & Development (R&D) Tax Credit regime. The definition of R&D is much wider than most people think and that is...
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I am a web site designer, can I claim R&D Tax credits

Date: 25th January 2013

Well here’s how you can tell. First, ask yourself a few quick questions: Do we spend time designing web based applications rather than just creating websites?Do we consider that our web based applications are creative and innovative?Do my software developers have to trial, check out possible solutions and experiment before we have a satisfactory stable and working web based application?Are we constantly trying to offer more competitive and innovative solu...
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R & D Tax seminar in Manchester

Date: 20th January 2013

Both Terry Toms and Linda Eziquiel will be speaking at a seminar that is being held in Manchester on the 11th February from 18.30 to 20.30 at the Ramada in Salford Quays. The seminar is “An insight into the R & D Tax credits scheme” The R&D seminar includes an introduction to the HMRC Research and Development Tax Relief and Tax Credits scheme for Small and Medium Enterprises (SME) and provides insight into how to better identify whether your clients’ are carry...
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R&D Tax Credits – Are you claiming your full entitlement?

Date: 18th January 2013

The Average SME claim, as stated by HMRC in their latest released stats covering the fiscal year to end March 2011, is just over £40K 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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What Is The R&D Tax Credit Potentially Worth To Companies?

Date: 6th September 2012

Research and Development Tax Credits – Latest Figures The latest figures published by HMRC in August 2012 show that in the year 2010/11 around 8000 SMEs claimed £340m, making the average SME claim worth about £42,000. From 1st April 2011 the rate at which qualifying Research and Development (R&D) expenditure is treated for Corporation Tax purposes increased from 175% to 200%, and on 1st April 2012 the rate increased again to 225%. On that basis it...
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