There is a lot of terminology around R&D tax relief, but don’t be put off. The key point is this:
If you are an SME, for every £100,000 spent on R&D, you can receive an additional £130,000 deduction from your corporate taxable profits potentially triggering a corporate tax reduction of up to £24,700 or, if loss-making, gain a cash refund of up to £18,850.
These are valuable benefits. And if you think you are not spending any money on R&D, think again. You may well be – it’s not just for the white coats in labs. Can you answer yes to any of these questions?
If so it is well worth exploring whether you may have a claim.
Visionary Accountants R&D team will lead you through every step of the process including:
R&D doesn’t have to result in a successful product to enable a claim and you may have several projects on the go that qualify. You may well benefit from an R&D expert working with you to achieve a successful claim.
Please do not hesitate to contact us to discuss how we can help you investigate your eligibility for R&D.
Our team of Research and Development Tax Relief experts will be happy to meet with you to discuss your business requirements. Complete the form below or call 01727 730550 to arrange your FREE consultation.
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