R&D Tax Credits Aberdeenshire
R&D Tax Credit Experts
What exactly are R&D Tax Credits?
Research & Development Tax Relief is an initiative for UK ltd. firms that rewards them with regard to investing in trying to find innovation.
R&D Tax Credits were first unveiled in 2000, therefore, if your organization has invested in its own advancement during that time and you're yet to mount a claim, you'll have lost out on tens, or even hundreds of thousands of pounds in lost tax relief as you can only recover organization spend placed down over the last two-open tax years.
So how does this sort of tax relief strengthen your company?
Companies like yours can bring back between 25-33% of their eligible investment costs back again whenever they've been investing in boosting their firms products, devices, processes, systems etcetera and may also take advantage of decreased corporation tax liabilities in the future.
The uk is highly regarded all over the world for creating new and novel approaches to do things and to being a power-house of skill in relation to determining and doing their best to resolve some of humanities most important problems. Our government are keen for our business community to continue this particular custom going and the R and D scheme is their strategy for making sure your small business will be awarded for doing so.
Research & Development (R&D) Tax Credits are Indeed an extremely rewarding business initiative which helps power your company's development.
Where your business is operating in profit, you can expect a £25,000 reduction off your next tax bill for every £100k of eligible spend identified. Wherever your organization has a loss, it could surrender this loss for an almost instantaneous cash rebate from HMRC valued at £33,350 for every £100k of qualifying spend identified.
The vast majority of SME's we help may benefit from a typical return worth over £46,000 within just six to nine weeks. You can see this is not small change and never to be overlooked as it can massively enhance any business cashing in on it.
There are a number of business owners who incorrectly believe that Research & Development really doesn't apply to their enterprise or they have been told as much previously but when they realise that their legacy endeavours to further improve their small business and secure advances could possibly constitute R&D and that they can retrieve as much as 100% of peoples wages you can understand how quick the results accumulate in your favour.
This hmrc initiative was established to help your enterprise by way of rewarding it for negotiating the steps needed to achieve progress.
When you and/or your company (which includes sub-contractors) are working to eliminate technical issues with a job, even if the activity doesn't get the desired end result you will still have the opportunity to claim a percentage of cash paid out back. What is important is that you are looking to gain progress because this will advance your understanding, experience and skills going forward.
How can I understand if my business can lodge a claim?
All UK organizations in all industries theoretically might be eligible, providing they are carrying out eligible activities.
Remember this initiative benefits your enterprise irrespective of whether your attempts to achieve an advancement have been effective or not; providing you are at least attempting to resolve the issues standing in the way of the progression being realized.
Where your small business continuously needs to 'go back to the drawing board' before you can 'try again' this may suggest that eligible Research & Development activity might be being carried out.
This is a good reason countless firms can mount a claim further to the actions they're carrying out without even recognizing it.
When you have had a 'hunch' your company can do a thing in a brand-new or different manner, and you work toward making your goals a reality, then you may be undertaking approved R and D activities.
If you've been making an investment in developing your firm and industry within the past 3 years and are not very certain if your endeavor will qualify as Research & Development (R&D), call the experts now, we can help you.
Why to choose Hamilton Wood & Company?
- Our senior technical expert actually resides on HMRC's R&D Consultation Committee.
- We have a 100% rate of success to-date.
- An average sum we achieve for our clients is now well over £46,000.00
- We have an approved methodology recognized by the government and can get more of your money back in your business in just 6 to 9 weeks.
- We work on a success only basis, so if there's no eligible activity, there is not any fee for our time, so it’s a risk-free process.
- We work along side with accountants on a national basis supplying assistance in this highly intricate area of tax.
- Hamilton Wood & Co are multi award winners for stimulating British businesses.
- We are recognised as a major R & D tax credit specialist in the UK.