Don’t let your business be one of the many eligible small businesses missing out on this government tax relief scheme. Allow us to explain and walk you through it!
It can be claimed by businesses seeking to research or develop an advance in their field.
Latest figures show that HMRC paid out £800m in R&D credits to over 16,000 small and medium sized companies last year, an average of £50k per claim. Companies in London and the Southeast made the majority of these claims.
That’s cash credit directly to your bank account, or a reduction in your tax bill of roughly 20-25% of the amount spent directly on R&D.
Another benefit is that the relief applies to all projects, including those that may have been unsuccessful. And you don’t have to be a profitable business: Loss-making or businesses that break-even may also qualify for a payable tax credit of up to 33% of your qualifying R&D costs.
Visit our knowledge base for more key facts as well as our tips for preparing your claim.
We specialise in this area and have successfully claimed R&D tax credits on behalf of many tech companies. We do this by:
Book a call with us to discuss how the tax credits could help your business.