R and D Tax Credits.
R&D Tax Credits are a tax incentive from the UK Government designed to encourage companies to invest in R&D. They can reduce your tax bill or you can claim payable cash credits as a proportion of your R&D expenditure.
We have a 100% success rate with all of our submitted claims, generating nearly £2m for our clients – in claims of between £5,000 and £300,000.
Too many businesses are missing out on this tax break that has already saved smart small businesses nearly £600m. According to the latest figures by HMRC, more than £590m of tax credit has been issued to UK SMEs. More than £50m has been secured in the North West alone.
The R&D scheme is part of the Government’s drive to boost innovation. It means that businesses investing in the research and development of new products and processes get a 225 per cent tax deduction on qualifying expenditure, including staff wages, materials, overheads, software and utility bills, as well as the ability to claim cash back from HMRC.