R&D Tax Reclaims
Research and development tax reclaims for company's new and old
Whether you are a new business or existing, you may be losing out on tax refunds that you may be entitled to. Currently only around 20% of SME's are claiming R&D Tax Reclaims which means there and tens of thousands of Limited Company's in the UK that are missing out literally on millions of pounds per annum. Average claims are around £40-50k, but refunds depend on each business's levels of expenditure. Company's use this money for growth, for re-investment, to start a project which may have been sitting on the backburner but each company will find its own use to benefit from this money the most.
One reason for this lack of awareness is that in many cases from our experience, their external accountants do not identify qualifying R&D activities. Plus again from our experience when they are identified by their accountants, claims are not maximised as we would do. Accountants are very good at what they do, their mainstream work, but when it is in a specialised area you need a specialist
R&D Tax reclaims are not limited to certain trades, from our experience our claims have successfully been paid out in a whole range of activities from food & drink, to manufacturing, agriculture and growers, as well as scientific of medical based operations. We have had successful claims within Construction to include associated trades such as Architects. We have had claims from retail, to commercial cleaning to IT to company's within the financial sector. R&D claims can literally be found anywhere!
So you may be entitled to a legitimate claim if, say for example you have:
- developed a new product,
- advanced or modified existing products or machinery
- overcome issues or problems with a product etc in the marketplace
- if you have been forced to find alternative materials/ingredients due to bans from the EU, Legislation, environmental issues or just public opinion or just simply because of stock limitations or financial reasons
- have you changed changed/amended a process to run more efficiently say or forced into changes such as reducing omissions
- developed/outsourced a bespoke IT system, developed apps, online portals, complex calculations or algorithms, developed automation AI etc. The IT side of R&D is massive and far too many to list
We are specialised in this field and have a 100% success rate on all claims submitted. We have an ex-KPMG tax specialist behind us as well (who also sits on the HMRC R&D Panel) with a number of professional writers that submit the Technical Reports for every claim that we submit. We offer a free no-obligation meeting/chat to discuss your business, its operations with a view to qualifying R&D activities. Once qualified, we can assist Company's in that claim process. Claims are generally repaid within 28 days of that claim being submitted.
So if you feel that you may be entitled to a claim, please get in touch