R&D Tax Credits Salford
R & D Tax Credits Specialists
So what exactly are R&D Tax Credits?
Research & Development (R&D) Tax Credits are a government scheme built to help enhance your organization by rewarding it for trying to obtain innovation in your business.
R & D Tax Credits were first introduced in the year 2000, so in the case your business has invested in its own improvement during this time and you're yet to claim, you may have missed out on tens, or even hundreds of thousands of pounds in lost tax relief since you can only get back company spend invested within the last two-open tax years.
So how can they help my business?
Organisations like yours can bring back between 25-33% of their allowed investment costs back anytime they have been investing in boosting their businesses products, devices, processes, systems and so forth and may also reap the benefits of lower corporation tax liabilities moving forward.
The government of the United Kingdom are eager for the business community of the United Kingdom to keep doing what its consistently done, and that is to create innovative and considerably improved means of carrying out things or crafting new game-changing innovations that might be held in high regard on the world stage.
R&D Tax Credits are A leading hmrc initiative made to reimburse companies for working to secure an advance in their industry.
When your business is operating in profit, you can expect a £25,000 reduction off your future tax bill for every £100k of eligible spend identified. Wherever your enterprise has a loss, it can surrender this loss to secure an almost immediate cash rebate from central government valued at £33,350 for each £100k of qualifying spend observed.
The majority of SME's we help may benefit from an average return worth over £46,000 in just 6 to 9 weeks. You can easily see this isn't small change and never to be disregarded as it could massively bolster any organization cashing in on it.
A large number of firms don't recognise that they usually are engaging in eligible Research and Development whilst carrying out their ongoing company activities. As much as a colossal 100% of individuals salary can be recoverable as well so this may well add up to a considerable financial award for your firm.
Organizations like yours who have spent company cash on looking to develop will be handsomely compensated via this government incentive.
It is crucial to take into account that even in the event any project did or didn’t quite go to plan, that you could still regain a percentage of the expenses you have received; the government will still compensate your small business for looking to secure the advance since you will nevertheless be advancing your understanding and capabilities which suggests an advance is more likely later on.
How can I discover if my company can claim anything back?
All British organizations in all industries technically might qualify, providing they're undertaking eligible endeavours.
Keep in mind this initiative works for your small business regardless of whether your efforts to achieve an advancement ended up being effective or not; so long as you are at least attempting to solve the problems standing in the way of the progression being gained.
Where your enterprise frequently has got to 'go back to the drawing board' before you decide to 'try again' this could signify that eligible R and D actions may very well be being completed.
Without actually realising it, many businesses out there may be performing eligible Research and Development activities. If you're not sure if your recent projects qualify, contact an expert now; we can help you.
When your business is aiming to improve its goods, procedures, systems, services, devices etc then you need to talk to one of our specialists to find out if your endeavours constitute eligible Research and Development.
If you have been investing in developing your company and industry throughout the last three years and are not really certain that your endeavor will qualify as R & D, call our experts now, we can help you.
Why use Hamilton Wood & Co?
- Our senior technical expert actually resides on HMRC's R&D Consultation Committee.
- We have a 100% success rate to-date.
- An average value we achieve for our clients is now over £46,000.00
- Our stream-lined 'fast-track' approach will get your funds back in your business within six - nine weeks.
- Only once hmrc makes funds available to your company are our low-fees due. This means you will always be in a cash positive position.
- More than 50% of our new clients come from accounting firms who we support with this very specialist area of tax.
- We are recognised as a top rated nationwide supplier of Research and Development tax services.