R&D Tax Credits Glasgow
R & D Tax Credits, What are They?
R&D Tax Credits are a major initiative operated by the government to reward Ltd. businesses taking part in attempting to move the boundaries of what's possible in their sector.
R & D Tax Credits Legislation was introduced in the year 2000. If your organization has invested in its own development since that time and never claimed R&D Tax Credits then you might have overlooked large sums of funds that could be tens of thousands to hundreds of thousands of pound in missed tax relief.
So, just how will they support my business?
Organizations like yours can collect somewhere between 25-33% of their allowed investment costs back anytime they have been investing in enhancing their companies products, devices, processes, systems etc and can also benefit from lower corporation tax liabilities moving forward.
Great britain is well respected throughout the globe for creating new and novel solutions to do things and to being a hot-bed of experience when it comes to determining and making plans to resolve some of humanities greatest issues. Our government want for our business community to help keep this specific practice going and the R&D scheme is their strategy for making certain your company is going to be awarded for doing this.
Research & Development (R&D) Tax Credits are Indeed an exceptionally worthwhile business program that can help fuel your company's development.
Wherever your company is operating in profit, you can expect a £25,000 reduction away from your future tax bill for every £100k of eligible spend discovered. Where your company has a loss, it can surrender this loss to secure an almost immediate cash rebate from HMRC valued at £33,350 for each £100k of eligible spend observed.
Hamilton Wood and Co. help our clients secure an average of £46,000 in just 6-9 weeks.
There are a lot of small business owners who incorrectly assume that R & D really doesn't apply to their firm or they've been told just as much in the past however, when they realise that their legacy efforts to improve their company and achieve improvement could possibly constitute R and D and that they can reclaim as much as 100% of peoples wages you can see how quick the numbers stack up for your benefit.
Organizations just like yours who've invested company money on working to improve will be handsomely compensated via this hmrc program.
Whenever you and/or your company (together with sub-contractors) are working to settle technical concerns with a task, even if the project doesn't reach the desired result you will still possess the ability to claim an apportionment of cash spent back. What is important is that you are attempting to achieve progress as this will advance your knowledge, know-how and skills going forward.
What could indicate if my company is eligible to claim?
When your small business is seeking to carry out things in a new and better way and you're a limited firm eligible to pay UK corporation tax, then there's an opportunity you could be allowed to claim.
Remember this incentive works for your organization no matter whether your efforts to obtain an advancement were effective or not; so long as you are at least working to solve the problems standing in the way of the advancement being realized.
Your on-going attempts or trial and error can indicate that eligible R&D activities might be being carried-out.
Without even realising it, many companies out there may very well be doing eligible R and D activities. If you are uncertain if your recent endeavours qualify, contact a specialist now; we can help you.
When you have had a gut-feeling your company can do something in a completely new or distinct manner, and you work toward making your ambitions a real possibility, then you might be undertaking eligible R&D activities.
With so much misinformation out there in regards to what does and does not qualify as Research & Development activities, if you've been making an investment in your business progression over the last three years call our expert advisors now and we will be happy to provide advice on whether you may qualify or not.
Why use Hamilton Wood & Co?
- Our senior analyst liaises with HMRC with regards to proposed changes and revisions in legislation.
- We have a 100% success rate to-date.
- We achieve an average in excess of £46,000 for our SME clients.
- Our stream-lined 'fast-track' process will get your funds back in your company in just 6 to 9 weeks.
- We take on the full cost of investigating and handling your claim. When there is no claim then there is no fee for our time and our low-fees are only due when funds are made available to your company. Win/win.
- Over 50% of our new business come from accounting firms who we support with this very specialist area of tax.
- Hamilton Wood and Company are multi award winners for stimulating British businesses.
- We are recognized as a major R & D tax credit specialist in the United kingdom..