R&D Tax Credits Milton Keynes
R & D Tax Credit Specialists
So what exactly are R & D Tax Credits?
Research & Development (R&D) Tax Credits are a government scheme manufactured to help fortify your organization by rewarding it for seeking to secure innovation in your business.
R & D Tax Credits were first brought in in the year 2000, therefore if your organization has invested in its own advancement over this period and you're yet to lodge a claim, you'll have lost out on tens, or even hundreds of thousands of pounds in lost tax relief since you can only recover business spend invested over the last two-open tax years.
How can they assist your organization?
Companies like yours can reclaim between 25-33% of their qualified investment costs back again any time they have been investing in strengthening their firms products, devices, processes, systems and many others and might also make use of reduced corporation tax obligations in the future.
The UK have a relatively long and proud record of formulating new methods for doing things and products and solutions which go on to change the earth for the better. The British government offer you this incentive to encourage more of the same.
Research & Development (R&D) Tax Credits are without doubt probably the most beneficial rewards that are in place to benefit Limited firms in Britain.
Wherever your company is operating in profit, you can expect a £25,000 reduction off of your next tax bill for every £100k of eligible pay out discovered. Wherever your company happens upon a loss, it is able to surrender this loss for an nearly instant cash rebate from HMRC valued at £33,350 for every £100k of qualifying spend identified.
An average sum we help to recover for our SME clients is now greater than £46,000.00, so you can see we are not talking small change here.
Many businesses are nevertheless not aware that many of their ongoing endeavours might easily constitute eligible R&D and that after they appreciate up to 100% of people’s salaries are usually included, that the numbers rapidly stack-up in their favour.
This hmrc program was made to help your organization by rewarding it for making the steps needed to achieve an advancement.
It is important to keep in mind that even when the project did or didn’t quite go to plan, that you might still retrieve a percent of the charges you've received; HMRC will still pay back your small business for endeavoring to secure the advance since you'll still be advancing your understanding and capabilities meaning innovation is much more likely later on.
How do I know if my business is eligible for this sort of relief?
All UK companies in all sectors theoretically may be eligible, providing they're carrying out permitted endeavours.
Remember this incentive helps your business no matter if your efforts to obtain an advancement have been effective or not; as long as you are at least working to solve the issues standing in the way of the advancement being gained.
It's the constant efforts to unravel these complications with accomplishing progress that's a flag that qualified R & D activity could be being carried out.
This is one reason why plenty of businesses can claim further to the activities they're completing without even recognizing it.
When you have had a 'hunch' your company can do something in a brand-new or different way, and you work toward making your ambitions a reality, then you could be undertaking qualifying Research & Development activity.
With so much false information out there in regards to what does and doesn't qualify as Research & Development activity, if you've been making an investment in your business development over the last three years call expert advisers now and we will be happy to offer advice on whether you may qualify or not.
Why to choose Hamilton Wood & Company?
- Our senior technical analyst actually resides on HMRC's Research and Development Consultation Committee.
- We have a 100% success rate to-date.
- An average sum of money we get for our clients is already over £46,000.00
- We have an approved methodology accepted by HMRC and can get more of your money back in your company in just six - nine weeks.
- We work on a success only basis, so if there is not any eligible activity, there is not any charge for our time, so it’s a risk-free process.
- We are partnered with accounting firms on a national basis and provide our assistance and experience to help safely optimise their clients Research & Development tax claim.
- We are acknowledged as a top rated national supplier of R&D tax services.