Research and Developments Tax Credits

R and D Tax Services UK by Hamilton Wood & Company. R&D Tax Services Liverpool | Wirral | Merseyside | UK

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If you’re a business owner and you don’t yet know what all the excitement is amongst UK business owners regarding valuable R&D tax credits and the cash injection they provide, where have you been since the year 2000?

Every year, more and more businesses are waking up to the fact that the UK government will reimburse them for any attempts to advance their industry subject to certain criteria.

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HMRC tax credits like this exist to help UK businesses flourish and thrive in today’s challenging economy.

The taxcredits work very well to support businesses who are seeking to gain a competitive advantage in so much that they can recover up to a 1/3rd of qualifying expenditure that has been allocated to projects seeking an advance.

Research and Developments Tax Credits UK

Wait, my last project didn’t work out as planned…

Don’t worry. You’re not alone and it is extremely important to remember that the government still supports businesses in this position by still granting appropriate tax reductions and rebates which can bolster company performance in the future.

R and D Tax Services UK

You Are More Than Likely Eligible for a Substantial Research and Developments Tax Credits Claim If You Are:

Enhancing, improving or refining existing:

  • Products
  • Services
  • Processes
  • Materials
  • Devices
  • Systems
  • Tools
  • (Even if the project failed
  • Even if the project was shelved/paused)

Planning, designing and creating:

  • New Products
  • New Services
  • New Processes
  • New Materials
  • New Devices
  • New Systems
  • New Tooling
  • New Prototypes
  • (Even if the project failed
  • Even if the project was shelved/paused)

Really? How Come?

OK so the UK has a long and proud history for being a world-leader, an innovator that delivers ideas and innovations that shape the modern world, for the betterment of mankind.

HMRC Research and Developments Tax Creditsare the UK Governments way of encouraging UK business owners to follow this proud tradition in that they will provide extremely generous taxcredits and rebates to businesses involved in any research and development (R&D) activities.

Surprisingly and more worryingly, huge numbers of companies that qualify for these type of tax deductions haven’t claimed before, and this is simply down to a lack of understanding when it comes to the law surrounding what is deemed qualifying activity and expenditure, and what doesn’t.

Thankfully, our specialist tax advisors are here to simplify the process and explain where your business could be owed tens-of-thousands of pounds and how you can have back in your business in as little as 6 – 8 weeks.

R&D Tax Services UK – Our Specialist Tax Advisors are Here to Help Your Business Succeed

R and D Tax Credit Specialists UK

Although Research and Development tax credits can be a daunting topic, our crack team of specialists are here to help your business by streamlining the recovery of any owed R&D entitlement.

HMRC Tax Credit Deductions

We provide access to one of the UK’s leading teams of R and D Tax Credit experts who will make sure that no stone is left unturned when it comes to identifying and recovering any monies that are owed to you and your business.

HMRC Tax Credits can be a minefield of potential problems. It is important that when dealing with tax deduction that you are dealing with experienced tax advisors because one small mistake could open you up to a tax investigation or worse.

Thankfully, Hamilton Wood & Company work with an elite team of tax advisors who work diligently to make sure that when it comes to R&D tax credits, that you are able to benefit from your full, true, statutory legal entitlement.

We work to an agreed methodology that will uncover, document and evidence all aspects of your claim and we will ‘hold your hand’ so-to-speak in the future to ensure that all future projects are able to maximise their return from central Government.


WE WORK ON A SUCCESS ONLY BASIS

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We help 100’s of businesses every month recover hundreds of thousands of pounds from central Government.

Fast and efficient claims process.

Your entitlement is normally delivered to your business in as little as 6 – 8 weeks.

We act as your agent and maximise your return.

If you’re in profit, you will get a substantial tax deduction.

If you are surrendering a loss, then you will get an immediate cash injection.

Research and development tax deductions really are the single most lucrative and beneficial government incentive for UK business owners.

The returns for businesses are absolutely magnificent.

How Do You Calculate the R&D Tax Credit?

R&D Tax Credits Example

For every ££ (Qualifying expenditure)
In Profit (Tax reduction or refund)
Surrendering a Loss
£50,000.00
£12,350.00
£9,425.00
£250,000.00
£61,750.00
£47,125.00
£500,000.00
£123,500.00
£94,250.00
£1,000,000.00
£247,000.00
£188,500.00

Research and Development Tax Credit Calculation 2018

research-and-development-tax-credit-calculation-uk-2018

Summary of this government tax incentive

  • If you’re in profit you can expect to get a tax reduction of £26,000.00 for every £100,000.00 of qualifying expenditure.
  • If you incur a loss, you will receive an immediate tax rebate back in your business in just a few weeks.

The above example is for companies that fall under the governments SME scheme. If you are a larger company of more than 500 employees, then it is likely you will be able to claim R&D under the RDEC scheme.

What qualifies for R&D tax credits

What counts for R&D tax credit qualified expenses?
How many years can I claim back?
How does the process work?
When can I expect my tax relief or money back?

  • New Products
  • New Processes
  • Bespoke Products
  • New Systems
  • Software Development
  • Wages
  • Pensions Contributions
  • Bonus Pay
  • Consumables
  • Materials
  • Support costs
  • Software
  • And More…
You can claim back the last two open tax years.
  1. Qualify that there could be a claim.
  2. Client signs a Client Instruction Form (CIF)
  3. We schedule a technical call with an experienced tax advisor that will last around 30-45 minutes.
  4. After the tech call, we then arrange an audit call to make sure your claim is ready for the Government.
  5. Our R&D Tax Advisors and specialist team prepare a report stating your case for the Government.
  6. The Government either agree, or disagree. We reason your case and work closely with the Government in this area to settle all claims as swiftly as possible.
  7. You receive wither research and development tax reductions or an immediate tax rebate.
In as little as just 6 – 8 weeks depending on the complexity of your claim and industry.

How Do I Know If My Business Qualifies?

If you have had any business projects where you were working on uncertainties and the way forward wasn’t immediately obvious, and you were working with any technologies and trying to apply scientific principles (i.e. gut feelings, trial and error etc.) then there is a good chance you could be owed a substantial figure.

If you have a project you would like to discuss, please call one of our specialists now on Manchester (0161) 791 1401.

It’s best to take the advice of an R&D expert to assist you with your claim.

All too often we see companies who have tried to use inexperienced consultants who have missed tens-of-thousands-of-pounds that could have been recovered on a client’s behalf.

Ask yourself this…

If this tax incentive dates back to the year 2000 and you have already agreed you are doing projects that sound like they could have qualified, exactly how much money do you think your business has missed out on?

The figure would probably make you cry!

Thankfully, with our expert help, we will put in measures to safeguard your company and its interests moving forward and to make absolutely certain that you receive 100% of your legal entitlement under this government incentive.

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