R&D Tax Credits Bristol
R & D Tax Relief Consultants
So what are R & D Tax Credits?
Research & Development Tax Credits are a major scheme run by the HMRC to compensate limited companies involved in trying to force the bounds of what's achievable in their sector.
Research & Development (R&D) Tax Credits legislation was introduced in the year 2000. In the event your business has invested in its own improvement since that time and never claimed R&D Tax Credits then you may have missed out on a large amount of money that can be tens of thousands to hundreds of thousands of pound in lost tax relief.
How can they support your enterprise?
To explain, when you are committing to enhancing your industry, your goods, solutions, systems, devices and even more you can retrieve between 25-33% of your own qualified business spend back again with continuing reductions in your company tax obligations.
The United Kingdom enjoy a long and proud background of making new strategies for carrying out things and products and solutions that go on to change the world for the better.
The UK government offer you this initiative to encourage more of the same.
R&D Tax Credits are In fact an exceedingly worthwhile business incentive that will help fuel your firms development.
Wherever your business is functioning in profit, you may expect a £25,000 reduction away from your up coming tax bill for every £100k of eligible spend unearthed.
Where your organization happens upon a loss, it can surrender this loss to secure an almost instantaneous cash rebate from HMRC valued at £33,350 for each and every £100k of qualifying spend identified.
The average sum we help to locate for our SME customers is now more than £46,000.00, so you can see we're not talking about small change here.
There are a number of company owners who mistakenly believe Research & Development does not apply to their small business or they've been told just as much previously but when they recognise that their past endeavours to improve their firm and secure improvement may amount to R & D and that they can retrieve as much as 100% of individuals earnings you can see how fast the amounts stack up for your benefit.
Your company might be handsomely compensated via this government program when you've invested company money attempting to accomplish things in a newer or notably improved manner.
In the event you and/or your crew (together with sub-contractors) are trying to resolve technical concerns with a project, even if the venture doesn't achieve the desired result you'll still have the capacity to claim an apportionment of money used up back. What is vital is that you are aiming to secure progress because this will expand your knowledge, expertise and skills in the future.
What will suggest if my small business is eligible to claim?
Wherever your business is endeavoring to perform things in a new and improved way and you're a ltd. business eligible to pay UK corporation tax, then you'll find that there's a possibility you will be able to claim.
Remember this program helps your organization no matter whether your efforts to secure an advance have been effective or not; as long as you are at least trying to resolve the issues standing in the way of the progression being gained.
Where your business repeatedly has got to 'go back to the drawing board' before you decide to 'try again' this tends to signify that qualified R and D activity may perhaps be being attempted.
This is one reason why a great many organisations can lodge a claim further to the actions they're carrying out without actually recognising it.
For those who have had a gut-feeling your company can do something in a completely new or different manner, and you work toward making your ambitions a reality, then you may be undertaking qualifying R&D activities.
With so much false information out there in regards to what does and does not qualify as R and D activities, if you have been making an investment in your company improvement over the past three years call one of our expert advisors now and we will be happy to offer advice on whether you may qualify or not.
Why to choose Hamilton Wood And Co?
- Our senior analyst liaises with HMRC in relation to suggested adjustments and updates in legislation.
- We have a 100% rate of success to-date.
- Most of our clients benefit from an award over £46,000
- Our stream-lined 'fast-track' approach will get your funds back in your organization within 6 to 9 weeks.
- We work on a success only structure, so if there is no eligible activity, there is absolutely no fee for our time, so it’s a risk-free process.
- Over 50% of our new clients come from accountants who we support with this very specialist area of tax.
- Hamilton Wood and Company are multi award winners for stimulating British companies.
- We are recognized as a leading R & D tax credit specialist in the United kingdom.