R&D Tax Credits South Lanarkshire
Research & Development (R&D) Tax Credits Professionals
So what exactly are Research & Development (R&D) Tax Credits?
R&D Tax Relief is an initiative for UK limited firms that benefits them when it comes to investing in seeking out innovation.
Research & Development (R&D) Tax Credits Legislation has been around since the year 2000. Whenever your business has invested in its own evolution since then and never claimed R&D Tax Credits then you might have now lost a lot of money which could be tens of thousands to hundreds of thousands of pound in missed tax relief.
So how will they help my company?
Simply put, for anyone committing to improving your sector, your goods, services, systems, devices and even more you'll be able to get back between 25-33% of your own qualified business spend back with continuing savings in your corporation tax obligations.
The UK have a very long and proud background of producing new means of performing things and products and services that go on to change the planet for the better. The British government offer this initiative to encourage more of the same.
R & D Tax Credits are A top hmrc program produced to repay companies for endeavoring to secure progress inside their industry.
At the time of writing, for every £100,000 your business invests on a qualifying project, you are going to receive either a £25,000.00 reduction off of your up coming tax bill, or if you are functioning at a loss of profits, you are able to ‘surrender’ this loss to result in an almost immediate cash-rebate worth £33,350.00 from HMRC with our support.
The vast majority of SME's we help can benefit from a typical return worth over £46,000 in just six - nine weeks. You can easily see this isn't small change and not to be overlooked as it will massively strengthen any business cashing in on it.
Many businesses continue to be unaware that lots of their day-to-day endeavours may easily constitute qualified Research & Development (R&D) and that after they understand as much as 100% of people’s paychecks might be included, that the figures rapidly stack-up in their favour.
Small businesses like yours who've invested company money on seeking to develop will be handsomely rewarded via this government initiative.
In the event you and/or your workforce (including sub-contractors) are attempting to settle technical uncertainties with a job, even if the endeavor doesn't reach the planned conclusion you will still have the capability to claim an apportionment of cash expended back again. What is crucial is that you are attempting to secure innovation as this will develop your knowledge, experience and abilities going forward.
How do I know if my small business is qualified for this type of relief?
All UK small businesses in all sectors technically could be eligible, providing they're carring out permitted endeavours.
Let’s bear in mind how the program is built to spur you on in your efforts to gain an advance in your business and sector whilst aiming to remedy in either of the technological obstacles that stand in the way of progress being secured.
Where your enterprise frequently has got to 'go back to the drawing board' before you'll 'try again' this can suggest that eligible Research and Development activities may perhaps be being attempted.
This is a primary reason countless firms can claim further to the functions they're carrying out without actually realising it.
For those who have had a 'hunch' your business can do a thing in a fresh or different manner, and you work toward making your goals a reality, then you may be undertaking eligible Research & Development activities.
With so much misinformation out there as to what does and does not qualify as R&D activities, if you have been investing in your business development over the past 3 years call our expert advisors now and we will be happy to offer advice on whether you may be eligible or not.
Why use Hamilton Wood And Co?
- Our senior analyst liaises with HMRC with regards to suggested changes and updates in legislation.
- We have a 100% success rate to-date.
- An average sum we recover for our clients is now in excess of £46,000.00
- Our stream-lined 'fast-track' approach will get your funds back in your company in just six to nine weeks.
- Only once hmrc makes funds available to your business are our low-fees due. This means you are always in a cash positive position.
- More than 50% of our new business come from accounting firms who we support with this very specialist area of tax.
- We are recognized as a leading national provider of R and D tax services.