Do your business activities qualify for the generous R&D tax incentives?
* Limited Company
* Trading for at least 18 months
* Minimum turnover of £500,000
Are you carrying out qualifying R&D activity? – The Key Questions:
* Are you attempting to develop a new (or bespoke) product?
* Are you trying to achieve something that has a level of uncertainty?
* Are you modifying an existing product or process?
* Have you made any environmental improvements to your processes?
* Have you carried out in-house design/development work?
* Have you developed new software/CRM (or enhanced an existing one)?
* Have you changed the composition of any products, in response to changes in legislation?
* Are you regularly “problem solving” to meet your customer’s needs?
* Do you seek to test, or improve innovation, new materials, processes or code?
If you answer ‘yes’ to any of the above, it is likely that you are undertaking qualifying Research & Development activity.
Many business owners do not see their day to day activity as anything out of the ordinary. Therefore, it comes as a surprise to realise that certain elements of their work can qualify for significant tax credits (or rebates), which can help fund the technological advances companies may need to remain competitive. The most common sectors for successful, substantial claims are Manufacturing, Engineering, and Software/IT companies, however R&D activity is also found in:
* Food and drink producers
* Waste recycling
* Paint and adhesive
- Failed products/ventures can also qualify!
- Loss making? – you still qualify!
As post Brexit Britain takes shape, innovation and efficiency will be of great importance to UK companies. For many companies this will require significant investment in R&D just to remain competitive.
If you would like a free, no obligation chat with an expert, please contact us. You have nothing to lose and potentially lots to gain.
Talk to The R&D Claims Company Ltd on 01925 859626.
Check out www.rdclaims.com to learn about our service and what our clients think of it!