R&D Tax Credits Aberdeen
R & D Tax Credits Advisors
So what exactly are Research & Development (R&D) Tax Credits?
R & D Tax Credits are a top rated initiative operated by the government to compensate limited businesses involved in trying to press the bounds of what's conceivable in their industry.
Research & Development (R&D) Tax Credits were first announced in the year 2000, therefore if your organization has invested in its own advancement during that time and you're yet to claim anything back, you'll have now lost tens, if not hundreds of thousands of pounds in lost tax relief as you can only get back business spend placed down within the last two-open tax years.
How can they support your small business?
Firms like yours can collect between 25-33% of their eligible investment costs back anytime they've been investing in strengthening their firms products, devices, processes, systems etcetera and might also make use of reduced corporation tax obligations moving forward.
The UK government are keen for the business community of the Uk to continue doing what its constantly done, and that is to produce brand new and appreciably improved ways of doing things or perhaps producing new game-changing innovations which will be held in high respect around the world stage.
Research & Development (R&D) Tax Credits are A prominent hmrc incentive proven to reimburse organizations for seeking to secure progress inside their industry.
As a rule of thumb, for every single £100,000 your small business invests on a qualifying endeavor, you'll collect either a £25,000.00 reduction off your upcoming government tax bill, or when you are functioning at a loss, it is possible to ‘surrender’ this loss which will lead to a virtually instant cash-rebate worth £33,350.00 from the central government with our help.
Most SME's we help may be helped by an average return worth over £46,000 within 6 to 9 weeks. You can see this isn't small change and not to be brushed aside as it can greatly bolster any business using it.
A number of firms do not recognise that they can be engaging in qualified Research and Development whilst going about their everyday business activities. As much as a amazing 100% of peoples salary can be recoverable too which means that this could amount to a substantial financial award for your business.
Your organization will likely be handsomely rewarded via this government scheme when you have invested cash on endeavouring to do things in a different or notably improved way.
It's important to keep in mind that no matter if any project did or didn’t quite go to plan, that you may still retrieve a percent of the charges you have sustained; the government will still compensate your business for seeking to secure the advance because you will nevertheless be advancing your understanding and capabilities which means an advance is a lot more likely at some point.
How do I recognize if my business is eligible for this kind of relief?
All UK organisations in all sectors theoretically might be eligible, providing they are carring out permitted activities.
Remember this incentive works for your organization no matter whether your attempts to obtain an advance were effective or not; providing you are at least looking to address the issues standing in the way of the advancement being attained.
It is the continuous work to settle these issues with accomplishing progress that is a flag that eligible R&D activity might be being carried out.
This is one of the reasons a lot of firms can claim further to the functions they're conducting without even realising it.
For those who have had a 'hunch' your company can do a thing in a new or different way, and you work toward making your goals a real possibility, then you could be undertaking eligible Research & Development activities.
If you've been investing in developing your firm and industry throughout the last three years and are not quite sure if your project will qualify as R & D, call our specialists now, we can help you.
Why you can trust Hamilton Wood And Co?
- Our senior analyst liaises with HMRC in relation to proposed changes and revisions in legislation.
- We have a 100% success rate to-date.
- An average amount of money we recover for our clients is now in excess of £46,000.00
- We can get your money back in your organization in as little as six to nine weeks.
- We take on the full cost of investigating and handling your claim. When there is no claim then there's no fee for our time and our low-fees are only due when money is made available to your business. Win/win.
- More than 50% of our new business come from accounting firms who we support with this very specialist area of tax.
- As a multi-award winning business services provider, we are accepted as a countrywide leader for what we do.