R&D Tax Credits Stockport
R&D Tax Relief Consultants
So what are Research & Development (R&D) Tax Credits?
R&D Tax Relief is an initiative for UK limited businesses that rewards them with regards to investing in looking for innovation.
R&D Tax Credits Legislation has been around since the year 2000. When your organization has invested in its own improvement ever since that time and not claimed R&D Tax Credits then you may have now lost large sums of funds that can be tens of thousands to hundreds of thousands of pound in missed tax relief.
How can this particular tax relief strengthen your company?
Put simply, if you find yourself investing in bettering your industry, your products, services, systems, devices and even more you can recoup between 25-33% of your respective qualified company spend back again together with continuous savings in your company tax liabilities.
The United Kingdom possess a long and proud history of making new means of performing things and products and solutions that go on to change the planet for the better. The British government offer this incentive to inspire more of the same.
Research & Development (R&D) Tax Credits are A prime government scheme intended to reimburse firms for aiming to secure progress inside their sector.
Wherever your organization is functioning in profit, you can expect a £25,000 reduction away from your next tax bill for every £100k of approved spend recognized. Where your enterprise happens upon a loss, it can surrender this loss for an nearly immediate cash repayment from HMRC valued at £33,350 for each and every £100k of qualifying spend uncovered.
The majority of SME's we help can be helped by an average return worth over £46,000 within six - nine weeks. You can see this is not small change and not to be disregarded because it can greatly bolster any business making the most of it.
A substantial amount of companies really don't recognise that they could be completing qualified R&D while carrying out their daily company functions. As much as a tremendous 100% of peoples wages can be recovered too so this could very well add up to an important monetary award for your organization.
Your organization will likely be handsomely compensated via this hmrc scheme when you have been spending funds on trying to do things in a brand-new or appreciably improved way.
When you and/or your team (this includes sub-contractors) are attempting to unravel technical issues with a task, even if the activity doesn't get the intended end result you will still have the capacity to claim a percentage of cash invested back.
What is essential is that you are looking to gain an advancement because this will further your knowledge, expertise and capabilities going forward.
How do I recognize if my firm is qualified for this type of relief?
To begin with all British Limited organisations who are eligible to pay UK corporation tax could be permitted to mount a claim.
Let’s not forget that this incentive is designed to encourage you on in your efforts to get an advance within your business and industry whilst looking to address any of the complicated difficulties that stand in the way of an advancement being realised.
Where your small business often has to 'go back to the drawing board' before you 'try again' this could signify that eligible R and D activities may perhaps be being carried out.
A lot of companies are carrying out eligible R&D but they are unaware to it as it just might appear to be 'business as usual,' don't miss out, call the experts now; we can assist you.
Whenever your firm is trying to strengthen its goods, procedures, methods, services, devices etc then you should speak to one of our specialists to determine if your work constitute eligible Research and Development.
With so much misinformation out there as to what does and doesn't qualify as R and D activity, if you have been investing in your business improvement within the last three years call one of our specialist advisers now and we will be happy to provide advice on whether you may qualify or not.
Why you can trust Hamilton Wood & Co?
- Our senior analyst liaises with HMRC in relation to suggested adjustments and revisions in legislation.
- We have a 100% rate of success to-date.
- We obtain an average more than £46,000 for our SME clients.
- We can get your award back in your business in as few as six to nine weeks.
- We take on the full cost of investigating and handling your claim. If there is no claim then there is no fee for our time and our low-fees are only due when money is made available to your organization.
- We work along side with accountants on a national basis delivering support in this highly complex area of tax.
- We are acknowledged as a major countrywide provider of Research and Development tax services.