Research & Development Tax Credits
– What Are They And How Can You Claim Them?
If your company makes innovative use of science or technology to develop or significantly enhance products, services or business processes, you may be entitled to claim research & development tax credits to help offset some of the costs of your investment.
The Government have been steadily increasing the value of this tax credit over the past three years but still, too many companies are missing out on claiming their entitlement for research and development. This is surprising given that the tax incentives for research and development have now been in place for over ten years – they are specifically designed to promote more investment in R&D by UK companies and the benefits can be significant.
Get ready to make your claim a success by:
- understanding what is R&D and what is not
- deciding whether you are eligible to claim research & development tax credits
- keeping up to date with changes to the tax incentives for research and development.
The legislation and regulations are quite well constructed but sometimes it might be faster and more efficient to seek expert input to check whether you are eligible to make a claim for research & development tax credits and to ensure your claim for research and development tax credits is well constructed.
Jaime Lumsden is a Director and Shareholder of Terry Toms and Partners Ltd, trading as RandDTax, a specialist national Research and Development Tax Relief consultancy supporting Clients and their Accountants in the preparation of claims. If your company makes innovative use of science or technology to develop or significantly enhance products, services or business processes, you may be entitled to claim R&D Tax Credits and help offset some of the costs of your investment. Many companies are either not aware of the Tax Credits available or have been under claiming. If you are already claiming R&D Tax Credits, you may be paying far too much in fees to one of the specialist R&D Tax Credit consultancies.
We can help to significantly reduce your claim costs. Contact us now for further information.
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