R&D Tax Credits North Lanarkshire
R&D Tax Relief Consultants
So what are R&D Tax Credits?
Research & Development Tax Relief is an initiative for UK limited firms that benefits them with regards to investing in seeking out innovation.
R & D Tax Credits Legislation has been around since the year 2000. In the event your organization has invested in its own progress ever since that time and not claimed R&D Tax Credits then you could have overlooked a lot of money which can be tens of thousands to hundreds of thousands of pound in lost tax relief.
How does this kind of tax relief strengthen your small business?
Companies like yours can collect between 25-33% of their eligible investment costs back when they have been investing in boosting their organizations products, devices, processes, systems etc and might also take advantage of lower corporation tax obligations in the future.
The UK government are eager for the business community of the United Kingdom to keep doing what its continuously done, which is to produce new and superior methods of carrying out things as well as developing new game-changing innovations that'll be held in high respect around the world stage.
R & D Tax Credits are a top government scheme designed to reimburse organisations for attempting to secure progress within their business.
As a rule of thumb, for each £100,000 your small business invests on a qualifying project, you'll get either a £25,000.00 reduction off of your upcoming tax bill, or if you are operating at a loss, you'll be able to ‘surrender’ this loss to stimulate a virtually immediate cash-rebate worth £33,350.00 from HMRC with our guidance.
The vast majority of SME's we help may benefit from an average return worth over £46,000 in just six to nine weeks. You can see this isn't small change and never to be overlooked as it could dramatically boost any company making the most of it.
A number of companies do not recognise that they can be completing qualified Research and Development whilst carrying out their day-to-day business functions. As much as a amazing 100% of peoples pay can be recoverable as well so this may possibly amount to an enormous monetary award for your firm.
This hmrc program was made to strengthen your organization by means of rewarding it for taking the steps necessary to secure innovation.
It's very important to remember that no matter if any project did or didn’t quite go to plan, that you could still get back a proportion of the expenses you have received; HMRC will still compensate your small business for working to secure the advance as you'll nevertheless be furthering your understanding and capabilities which means progress might be more likely at some point.
How do I recognize if my business is eligible for this particular relief?
When your organization is trying to carry out things in a new and enhanced way and you are a limited firm eligible to pay UK corporation tax, then there may be an opportunity you may be allowed to claim.
You need to be endeavouring to resolve any one of the barriers standing in the way of an advance being secured. Don't forget this initiative will repay you even when you fall short in your work.
Your regular attempts or experimenting can imply that eligible R&D activities could possibly be being carried-out.
This is one good reason a lot of companies can lodge a claim further to the actions they're performing without even recognizing it.
Let’s say you’re a business person and you've got a sense that you can perform anything better, more efficient, more eco-friendly in a unique or appreciably superior way, and you are also having to endure an amount of learning from mistakes, then this will in all probability constitute approved R & D activity.
If you've been investing in developing your business and industry over the last 3 years and aren't very certain that your project will qualify as Research & Development (R&D), call our advisors now, we can help you.
Why should you use Hamilton Wood And Company?
- Our senior R&D Technical specialist resides on HMRC’s Research & Development (R&D) Consultation Committee, which means you couldn’t be in better hands.
- We have a 100% rate of success to-date.
- An average sum we secure for our clients is already more than £46,000.00
- Our stream-lined 'fast-track' process will get your funds back in your organization within six - nine weeks.
- Only once hmrc makes funds available to your firm are our low-fees due. This means you will always be in a cash positive position.
- More than 50% of our new business come from accountants who we support with this very specialist area of tax.
- We are acknowledged as a major countrywide supplier of R&D tax services.