Research & Development tax credits (R&D)  

Research & Development (R&D) tax credits rewards UK companies for investing in innovation, developing new products, processes or services or enhancing existing ones. 
 
A recent survey carried out by "Management today" highlighted that there was little or no awareness or understanding of the Governments Research & Development tax credits, who qualifies and how it can inject immediate cash into a business. 
 
It revealed that only 20% of all companies who were entitled to claim R&D benefits were doing so, that left 80% who were missing out. 
 
R&D tax credit rates are the equivalent of up to 33p for every £1 of qualifying expenditure. 
 
 
 
 
 
94% 
 
 
 
consider innovation essential, high or medium priority 
 
 
 
89% 
 
 
intend to innovate in the next three years 
20% 
 
ONLY 20% have claimed R&D tax credits 
Why are companies not claiming R&D tax credits..? 
 
The two main reasons that showed up in the survey why companies were not claiming R&D benefits were, they did not know they existed and they did not know what work qualified as R&D. 
 
When companies where asked in the survey: 
QUESTION.  
"Which of the following activities would you consider as R&D..? 
79% 
New product development 
 
 
 
41% 
Changes or modifications to an existing process 
63% 
New process development 
 
 
 
34% 
MARKET RESEARCH DOES NOT QUALIFY 
58% 
New service development 
 
 
 
31% 
Internal projects 
47% 
Changes or modifications to an existing product 
 
24% 
Successful projects 
47% 
Changes or modifications to an existing service 
 
23% 
Unsuccessful projects 
All the above work qualified for R&D tax credits other than "Market research" 
Our partners 
We have partnered with award winning trusted R&D tax advisers to provide you an end to end service to compile and process your claim to a successful end. All tax advisers are chartered and many advisers processing your claim, before submitting it to HMRC, are former HMRC tax inspector's themselves. 
Our partners will project manage every step, see below their process. 
1. 
Getting to know you 
We save you time by quickly determining whether you qualify, and maximise your claim by looking beyond the obvious R&D projects 
2. 
Your input 
 
 
We maximise your claim by talking to the right people in your business to uncover all R&D activity. 
 
 
 
3. 
Our input 
 
 
You get peace of mind that your claim is submitted to HMRC in the best possible shape 
 
 
 
 
4. 
Dealing with the HMRC 
 
We take care of everything to ensure minimal hold-ups and queries. 
5. 
Receiving your tax credit 
 
You are rewarded for your investment in innovation. 
 
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