R&D Tax Credits

R&D Tax Credits

What is R&D?

R&D tax relief was introduced by the government to support and incentivise innovation amongst small and medium sized UK businesses. It is still a massively under used scheme, and many businesses’ are missing out without realising.

You could be claiming back up to £33 of every £100 spent, where the expenditure qualifies as Research & Development.

But what does it all mean?

Well, it can be found in any industry – it’s not just reserved for science and tech businesses – you just need to know what you are looking for, so it’s important not to rule yourself out. 

To be eligible, a business must be:

  1. Making a considerable improvement to existing technology, this does not always mean it is ground-breaking or innovative work. If a business is working to make their product, services, or processes, faster, less expensive, or better in some way, then this may be eligible for R&D tax relief.
  2. Overcoming technological challenges, especially where the solution is not immediately obvious to a qualified professional. 

So where do we come in?

Brighter Futures Accountancy work with a specialist R&D Charted Tax Adviser called Tim. He runs his own company called Radish Tax that specialise in R&D claims, because they are passionate about making sure that companies do not miss out on money owed to them.

How do I make a claim?

 

The process is straightforward and only requires a small amount of your time.

 

To get started, we will identify in a 15-minute qualification call whether you can make an R&D Tax Claim.

 

If you qualify, great.

 

We would then schedule a slightly more in-depth consultation with you – around 30 minutes – to collect all the information needed to put the claim together for you.

 

A report is then produced.

 

We will make the submission to HMRC and finally the money hits your bank.

 

It’s that straightforward. 

R&D Timeline

What are you waiting for?

 

Given the value this could bring back into your business, contact us below and we will get our R & D expert to arrange a 15 minute call, if only to rule it in or out.