R & D Tax Credits Claim Consultants

Thousands of companies are failing to apply for R&D Tax Credits. The value is usually worth tens of thousands of pounds and can be backdated.

R&D tax credits serve as a form of government incentive in the UK, aimed at compensating companies for their investment in innovative projects.

These credits are a valuable source of funding that businesses can use to accelerate their R&D, recruit new employees, and expand their operations.

The criteria established by the government for R&D purposes are intentionally inclusive, meaning that companies of any size and industry may be eligible if they are spending money on trying to overcome scientific or technological obstacles.

You could be eligible to claim R&D tax credits if your company has:

  • Invested in improvements to an existing product, process or service
  • Or developing something brand new

Your R&D project does not have to have a successful outcome; you just need to be able to show the development from idea to conclusion.

This applies to UK companies, companies that have a UK branch (but are based elsewhere) and if they are members of an LLP.

Many companies have R&D activities that are so intertwined with their daily work that they fail to recognise it as Research and Development. Subsequently, they don’t consider it as an eligible cost under the R and D scheme.

How an R&D tax credit consultant can help

It’s really important to understand when you can claim for Research and Development tax credits to make sure you don’t miss out.

Choosing an R&D tax credit consultant can bring a number of benefits to your claim including:

  • Assess your company’s activities and costs, to see which ones qualify as ‘R&D’ under HMRC’s research and development scheme.
  • The process of claiming R&D tax credits is not straightforward and it is important to have a complete understanding of HMRC’s legislation before starting the process.
  • Submit a fully compliant R&D tax relief claim to HMRC.
  • Recommend the precise record keeping requirements needed for an R&D claim.
  • Work with your current accountant.
  • Work with HMRC on your company’s behalf.
  • Assess current R&D claims in line with new HMRC guidance and their wider parameters of acceptability.
  • Advise on how to adjust accounting processes to increase the efficiency of making an R&D claim.

If you would like to learn a bit more about R&D tax credits before making an enquiry you can use our free Guide to Research and Development Tax Credits »

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