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who can claim annual tax relief?
The North’s leading R&D Tax Credit consultancy
Are you missing out on thousands of pounds?
We help businesses get money back from HMRC for innovation. Many businesses don’t know they are eligible and many have been incorrectly told that they can’t claim. We like to call this ‘money for innovation’ and HMRC call it ‘R and D Tax credits’.
You can claim up to 33% of your expenditure, which can include staff time and using freelance labour.
It is thought that 90% of companies who may have a claim still haven’t claimed, mostly because they don’t realise that they can.
What are R&D Tax credits?
The scheme was introduced by the UK government in 2000, to encourage companies to innovate.
HMRC will give companies extra tax relief of up to 33% of the amount spent on qualifying projects if they spend time and money on innovation, for example
- Developing a new project
- Making changes to a current product
- Developing apps or bespoke software systems
As a business owner you will know how costly this can be both timewise and financially. This is why HMRC want to help and encourage businesses to innovate.
Do I actually get money from HMRC and if so how much?
This can vary, but as you can claim back for 2 years, the first claim will usually mean that you will get actual cash paid to you. In the years that follow the tax credit is offset against your corporation tax, so reduces the tax you pay, therefore is still money in your pocket. However if you don’t have any tax to pay, then once more you will be paid cash.
My accountant says I can’t claim. Are they right?
They could be! However we are always happy to double check. Many accountants work with us, but unfortunately some just don’t understand how R and D tax credits work and don’t advise their clients properly.
How much do you charge?
We only charge if we are successful as a % of your total claim, so there is no risk to you at all. We are very proud of our 100% success rate, which is why we take the risk of preparing your claim and at no up front cost to you.
Questionnaire and Calculator
- Do you qualify for money from HMRC?
- Are you trading as a limited company?
- Have you developed a new product, service or system?
- Do you employ people?
If you answered yes to the above question then you may be eligible please email us on enquiries@randdtaxes.co.uk
Why not have a look at how much you could claim?
How much could you claim?
Is your company
a) Loss Making b) Profit Making
How much have you spent on R and D? (staff wages, consultancy fees and other costs)
