Do I Qualify for Research and Development Tax Credit?
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 advantage?
- Taking on development projects where the work is experimental and we take the risk?
- Creating, or attempting to create new services or materials?
- Designing, installing and trialing bespoke engineering solutions or projects?
- Failed projects of the above types?
If your answer to any of the above questions is yes, don’t do what many companies do and ask your accountant if you can claim R&D tax relief, instead ask a specialist research and development consultant – as while most accountants understand the tax side of claiming R&D tax relief, they won’t necessarily know if you are doing R&D, or the full scope of your research and development activities.
It should cost you nothing to get an initial expert opinion on the likelihood that you can make a successful research and development tax credit claim.
Are you ready to find out if you qualify or how much your R&D claims could be worth?