R&D Tax Claims

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R&D Tax Relief for Small to Medium Enterprises (SME’s)

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Date Published: December 8, 2022
Research and Development Tax Credit Relief - Photo of business owner in a meeting - Hamilton Wood and Company Birmingham

When it comes to R&D Tax Relief, we have a long and proud history of supporting UK businesses’ R&D tax claims safely and securely.

Has your business spent money trying to improve your products and services?  The outcome is not as important as your trying.

If you have spent money trying to improve your business in some way or another, and are uncertain if your business qualifies for a research and development tax claim, get in touch with one of our friendly advisors who will be happy to assist you.

Sadly, any delay in claiming what could be your entitlement could see your business missing out on tens of thousands of pounds every year that you fail to claim.  All too often we encounter businesses that have missed out on large sums of money as they have either procrastinated or they simply did not realise that some of their business expenditures qualify for R&D.

With the rules on R&D constantly changing, make sure your business gets its optimal award under the current prevailing scheme by contacting one of our team today.

We have a long track record of producing robust and viable R&D tax claims that stand up to intense scrutiny by HMRC.

When it comes to R&D tax relief claims, we are the UK’s leading specialist helping lots of businesses each year drastically improve their Company’s bottom line, quickly and efficiently.

R&D CLAIM EXAMPLE | SME R&D SCHEME

Pre 31st March 2023Post April 2023
£100k Qualifying Spend£100k Qualifying Spend
Enhancement +130%Enhancement +86%
Amount claimable in every pound: 33.3pAmount claimable in every pound: 18.6p
CASH REBATE AWARD DUE: £33,350CASH REBATE AWARD DUE: £18,600

 

R&D TAX CREDIT ELIGIBILITY

When it comes to what qualifies for an R and D Tax Credit claim, as you can see above, the rules are constantly changing.

Hamilton Wood and Company Manchester | London, are the UK’s leading specialists at helping UK businesses safely recover their full true award under any prevailing scheme such as the SME R&D scheme or the RDEC scheme.  When it comes to RDEC that is for larger businesses, the workings differ from those above.

HOW DO R&D TAX CREDITS WORK

Well, that depends now, doesn’t it? Can you be sure the business projects you have been undertaking are eligible R&D?

The goalposts surrounding R&D keep changing, as does the claimable benefit as stated in the comparison above.

To understand how R&D Tax Credits work, in their simplest form, they reward businesses investing in trying to improve their products and services by allowing a generous tax rebate that has the effect of reducing the Corporation Tax Profit Threshold.

Any reduction of the available tax pool simply means you pay less tax and potentially, can trigger substantial rebates depending entirely on the status of your Company in the allotted time frame e.g., the last two years retrospectively.

R&D TAX SPECIALISTS: HAMILTON WOOD AND COMPANY

Hamilton Wood and Company are a multi-award-winning R&D Tax Credit Specialists.

Since we were established all the way back in 2017, we have gone on to help many UK companies recover their full, true award under the various R&D schemes available in the UK.

Higher than average award (Safely)Fully managed process
Award-winning teamLimit your time involved <2hrs
Snr. Specialist on HMRC’S R&D panel100% success rate
Low success feesRobust fully prepared narrative
100% SuccessMD a fellow of UK Research and Innovation
Ongoing SupportLow and affordable fees

 

R&D TAX CREDIT SERVICES:

We are a UK leader in Research and Development Tax Relief Claims.

HMRC Research and Development Tax Credits are a complex and commonly misunderstood area of UK tax law.

Our industry-leading services take the headache of safely claiming R&D tax relief.

We offer an expertly managed end-to-end process with extremely competitive rates to make sure your claim is professionally managed with one of the highest success rates in the UK.

Our specialist experts demystify the process of successfully claiming R&D Tax Relief.

HOW DO R&D TAX CREDITS WORK

To see an R&D Claim Example please see the illustration further up this post.

Many of those businesses facing HMRC investigations have failed to properly address the many nuances with the R&D tax incentive.

One of the key principles of a successful R&D tax relief claim is that you have been trying to do something new.

As a business owner proud of its’ heritage, you have spent money trying to improve your products and services in a new way.

When you have spent your company’s money on a such a grand challenge of pursuing future innovation, we applaud you and our specialists are here to make sure you secure the optimal R&D relief you can.

Historically R&D tax credits were valued at 33.3p back in the pound however, due to Rishi Sunaks Autumn Budget this has fallen to 18.6p back in the pound, however, for much larger companies e.g. the less than 10% he has now drastically increased the amount they can recover under the incentive.

RISHI SUNAK…SEE YOU NEXT TUESDAY as you are hurting the lifeblood of the UK economy.

Now, we are sorry for such vulgarity however, as we already explained, we are on your side.  Politicians are so out of touch with hmmm ‘REALITY’ that we will continue to do all we can to safely and legally get your business the maximum reward it can under current tax laws.

SMALL BUSINESS R&D TAX CREDIT

Firstly, if you are a small business, think closely before you next cast your vote on the ballot paper for the reasons above e.g., looking after the big boys who often pay bribes (sorry, “DONATIONS”) to support the current political agenda.

We are R&D tax credit experts in helping to strengthen UK businesses.

We are UK funding experts with a difference.

WE ARE ON YOUR BUSINESS’S SIDE.

R&D Check out our ultimate guide to R&D tax credit claims by clicking this link

We deliver award-winning R&D tax services to help your business thrive and evolve now, and for the future.


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