R&D Tax Credits – an awful name, and perhaps one of the worst-named government schemes! But if they named it “free cash if you’re doing something different”, they might not be able to cope with demand.
How it works – in essence, if you are doing something in a different way to before, if your’e developing a new product – or a process, a way of doing things – you can ask the government for money.
The amount you get is complicated – but if your claim is good, it could be over 1/3 of the money you spend – so even the wages of the people doing the work can count. It might be less – but if you’re eligible, it’s still likely to be over 10% of the money you spent. And that is a great help for your cashflow.
How Do Grants Affect R&D Tax Credits?
Many potential claimants hold back, because they’ve had some grant support. If you have, it alters the way the credit can be claimed – but it doesn’t stop a claim. It’s a complex area, so please do contact us if you’d like some advice.
How Can We Help?
Over the years we have claimed back millions of pounds of cash for businesses doing interesting things – sometimes it is “rocket science”, but sometimes the development work is very simple.
If you’d like us to help, call us for a free discussion – there’s no commitment and no charge. In fact, we only ask you for anything when the government’s agreed how much you’ll get as a grant – and then we’ll ask for a small commission.
This isn’t just for this year – it can usually be backdated for a couple of years. So don’t delay, get in touch with us now, or risk losing out.