R & D Tax Relief - Have you recovered your fees ?
Do I qualify
If you own a limited company that has been trading for more than 12 months and has developed new, or improved existing products, processes, systems, services, devices or materials, then there is a significant chance you will be eligible to claim for Research and Development Tax Credits.
Irrespective of whether your company is currently making a profit or operating at a loss, a claim could still be possible.
What can we claim for
Typical claim items include staff costs, consumables, utilities, travel costs and sub-contraction costs. If it's possibly Research or Development then making a claim could be to your advantage.
What could it be worth?
The amount of tax relief available will depend on the amount of money being spent by the business, and the profitability of the business when the work took place.
In some cases, the relief can extend to around a 30% return on the investment undertaken by a business in Research & Development.
The tax relief will typically take the form of a cash rebate from overpaid tax in year 1 and then reductions to your tax liability moving forward.
We can point you toward experts in this field on a no win no fee basis. If your accountant did not suggest this are they the best ones to help you now?