R&D Tax Credits is a valuable business incentive offered in Great Britain. It is by far the most beneficial incentive to help your business succeed.
What is R&D tax credits?
R&D tax relief rewards businesses for investing in pursuing something new. This incentive was first announced in the year 2000 to reward innovative companies.
For every £1 used up in an eligible activity, It's possible to recover up to a third of that pound.
In more basic terminology, this means you benefit from up to £33,000.00 back for each £100k invested in an eligible project.
You may recover between 25% and 33% of your eligible costs back.
The incentive was introduced at the dawn of the new century to encourage more corporations to put money into new and improved products and solutions.
For every pound the treasury grants back to a business, they reason they get a further £7 on a multiplier basis.
The truth is, when your small business receives a successful R&D award, you have to pay individuals salaries, and purchase other items that carry duty.
Wages are then spent on items that are taxed for instance fuel, alcoholic beverages, cigarettes etc.
That is certainly a clear case of the Government giving to receive.
Our award winning process
Free 10 minute R&D Health Check
Our friendly consultants quickly assess the strength and validity of your business projects.
We are able to tell you how much your claim could be worth fast.
We issue a Client Instruction Form (CIF) that authorises our team to act on your behalf.
When the signed CIF is received we then schedule your technical call.
Technical Call & Report Preparation
In this 45 minute phone consultation we distil required information that will form the basis of your claim.
Our specialists ensure that no valuable benefit is missed to ensure that your business receives its optimal award.
We then prepare and submit your claim.
Submit Report to HMRC. Award is Made.
Our team of experts liaise with HMRC on your behalf.
We work closely with accountants nationally in this complex area of tax law.
We diligently manage you claim and work to resolve any issues and questions that HMRC may have.
We are proud to have a trusted relationship with HMRC. An average award for our clients is now over £45,000.
Your total time commitment over 6-9 weeks : < Less than 3hrs
So how can I claim R&D tax relief?
Well when you have spent company cash seeking to enhance its products and services this might uncover a potential case.
You may even be eligible to claim if you have tried to make improvements to current services and products. You must have put into qualifying endeavours.
HMRC is currently pursuing numerous firms who've submitted incorrect claims. This illustrates the importance of using specialists to ensure things go-ahead without a hitch.
Specifically what projects will be eligible for Research & Development tax relief?
Where you're undecided about the the best way to proceed. When there existed a level of significant technical or even scientific doubtfulness that had to be sorted out.
What matters is that your organisation has attempted to enhance its products and/or services. You are going to do this by striving to conquer the problem in the process.
How many years can you claim for?
You are able to receive qualifying project expenses spanning the last two open tax years.
This is strictly enforced by HMRC so if you have not yet claimed and your tax year end is approaching contact us now so you don't miss out.
Once its gone its gone and can't be recovered.
Exactly how much is an R&D claim worth?
An average claim for most SME's is over £45,000 and in most cases, this comes as a cash lump sum or substantial reduction in your Corporation Tax liability.
What is the value of a successful Research and Development award for an Small to Medium Sized Enterprise (SME) in profit?
An SME business in profit can expect reductions in CT liability of 25%. It is simple to see why this incentive continues to grow in popularity.
What is the value of a successful Research & Development claim for a loss-making SME?
A loss-making Small to Medium Sized Enterprise can receive an immediate injection of funds by surrendering a loss.
A loss-making SME can expect to retrieve around 33 % of their qualified project spend back. E.g. £33,000.00 for each and every £100k of qualifying spend unearthed.
When you realise that as much as one hundred percent of your teams' wages could be retrieved you will realise how quickly the numbers stack-up in favour of your organisation.
Costs You Can Recover
Reasons to Trust Us
We are a multi-award winning R&D tax specialist. We exist to help strengthen your business. We work tirelessly to ensure that your business receives its full, true R&D award. We work to a self accredited ISO9001 quality standard.
Who is Hamilton Wood & Co?
Our success is yours. Stimulating UK Businesses is why we exist.
Our team is dedicated to helping your UK business be more successful.
Our company offers leading tax credit solutions and low-fee commercial loans to help strengthen companies.
We're tactically based in Manchester at the centre of the UK.
We provide our services on a nationwide basis from our headquarters.
Our company offers down-to-earth advice and support designed to help strengthen your small business and improve its bottom line.