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R&D Qualifying Activities

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One of the common misunderstandings, that I see all the time, is the assumption that because a company is doing development but no real research they don’t qualify for research and development tax credit. This simply is not the case; it is the development aspect of a company’s activities that is often where the R&D qualifying costs are. Plastics example Water bottle production...
There are plenty of misunderstandings about research and development tax credits for software developers – the good news is that many software developers can and should be claiming Research and Development Tax Credits. Complex website designers, games software developers and web application developers should certainly look at claiming research development tax credit for software development...
How you involve your accountant is important – read why that is… When it comes to research and development tax credit, accountants are my best friends although they don’t always get it right. If you are a small company, let’s say with £500k to £20m turnover your accountants will usually be able to advise you about the tax side of your R&D activities, but in many cases cannot help you...
Questions to ask… If you are a business owner and you want to work out if you are doing qualifying R&D, look back on the last three years and ask yourself these questions – has my company invested time or/and money in: Creating, or attempting to create, any innovative new products? Developing new processes for manufacturing or other business processes to gain competitive...
Is your business in assembling control panels or similar systems such as switchboards, to a bespoke design and if so is that research and development? …You might be helping your clients to be more energy efficient by reducing their energy consumption, or improving safety, or modernising their equipment with the latest control devices. You get involved in developing, sometimes quite complex,...
The top fact to keep in mind is that Research and Development Tax Credit is only available to limited companies and there are different schemes for SMEs (Small and Medium Enterprises) and large companies. The type of costs you can claim for have been defined by HMRC and the key ones are listed below. Qualifying expenditure: Staffing costs including wages, employers’ Class 1 NIC,...
We have put together a graph showing the value of an R&D tax relief or tax credit claim (a tax credit cash payment is made where a company makes a trading loss in the relevant year). It shows the value of an R&D claim based on the following assumptions: You had £50,000 of eligible R&D costs in the year. You pay corporation tax at the standard small companies standard...
RandDTax are on stand A339 near the Tax Theatre – see Terry, Rod and Gordon entertaining visitors to our stand…

Are you ready to find out if you qualify or how much your R&D claims could be worth?

 

Contact Us Today

For more information or to contact us - call us on 0771 9439 229 - or send us a message

CONTACT US TODAY:

For more information on claiming R&D tax credits or our business advice and support services call us on 0771 9439 229

Or send us a message

PO Box 53448,
London,
SE18 9DE

ACCREDITATIONS & OWNERSHIP

Our consultants are members of London Group Business Advisors and Home Counties Business Advisors.

Linda Eziquiel is a Fellow of the Institute for Independent Business and a Principal Consultant at RandDTax (specialists in Research and Development tax credits) – UK co. reg. no. 08160439.

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