Do you think differently? You are probably doing Research and Development and we can help you maximise your claims.
You’ve probably already heard about R&D tax credits but have you ever stopped to consider whether you are eligible to make a claim?
It can include:
- Changing their overall structure and the way you operate
- Analysing which markets or products you need to focus on
- Changing or adapting the systems and business processes you use
- Reviewing your manufacturing processes
- Focusing on developing new ideas or products
- Researching new ideas that maybe didn’t work or take off at the first attempt
Similarly, your research and development activities neither have to be based in the UK nor need to have been successful for you to make a claim. As long as you can show you have attempted to find new ways to take your business forward, you could very well be eligible for credit.
It is also important to understand what you will gain if your claim is successful. Here are some key points to bear in mind while you decide whether you want to make a claim:
- If you are classed as an SME, you could recover up to 43.7% of your annual R&D spend. This means that if you spent £100,000, the net cost to you would be only £56,300.
- If you are classed as a large company you can claim up to 9.72% on your R&D spend which means you’d recover almost £10,000 if you spend £100,000 within a year.
- If you are not quite at the revenue stage, you can still recover up to 33.35%. This means that if you spend £100,000 on R&D you could save £33,350 on your first Corporation Tax bill. This is achieved by claiming an R&D tax credit of 14.5% of the enhanced expenditure. So a spend of £100,000 would be enhanced to £230,000. The credit would be £33,350 (£230,firstname.lastname@example.org%)
We know you don’t have the time or inclination to wade through pages and pages of government legislation so we’ve a designed a very simple process that we will manage for you:
- We arrange a time to speak so we can find out more about the R&D you have been doing. This includes discussions with those at the coal face of the operation to ensure we maximise the process for you.
- We can then assess whether you have a claim
- If you have, we will then calculate the amount you’re owed and initiate the claims process
- We will then manage the process, liaising with HMRC on your behalf if required
- You receive your R&D tax credit
A fee structure that suits you.
We can work on a contingent fees basis, a fixed fees basis or a hybrid of both. Our clients have different preferences and we adapt our fee structure to suit each scenario.
A fully contingent fees basis offers less exposure from your perspective and an incentive for us to really get to know your business and maximise the claim. A fixed fee basis offers you the opportunity to get involved more and work with us on how we may maximise the claim for you but you get all the benefit the more the claim is. The choice is yours!