Research and development tax credits are a tax relief designed to encourage greater R&D spending and investment in innovation. They work by giving you a cash payment based on your research and development expenditure. Loosely based, R&D work is any project in which you attempt to overcome scientific or technological uncertainties at your own risk - something NEW must come out of the process. You can backdate claims up to two years from the end of your accounting period. At Easy R&D, our service offers the very best technical and specialist tax expertise to maximise R&D tax relief claims.
To be eligible, your company must:
To be eligible, your company must:
- Be a Ltd company or a Plc (not a sole trader or LLP)
- Have at least 1 year of accounts filed
- Have a minimum average turnover of £500k
- Have a minimum of 5 employees
We can claim for:
How much can I claim?
If this is your first claim you’ll have the opportunity to cover the last 2 accounting periods. Your claim could be worth up to 33% of these total R&D costs assuming all the criteria for R&D tax relief have been met. The Easy R&D average claim size is around £40,000 with over 600 claims and 100% success rate.
Next Steps:
Would you be open to us facilitating claiming your R&D Credits? This doesn’t cost you anything (as we work on a contingency-basis only if successful). All we need is for our consultant, Paul Witcomb, to give you a call to discuss the things you can claim for in your business. Would you be open to a call? Please let us know and we will get our consultant to zoom call you at a time of your convenience.
- Staff Costs – (salary, national insurance and employer pension) for their time spent on the R&D project. You can also count reimbursed R&D business expenses.
- Software – Include any software purchased for R&D purposes.
- Subcontracted R&D – Claim 65% of what you paid your R&D subcontractor.
- Utilities & Consumables – Add up water, fuel, power and material used in the project.
- Prototypes – Include all R&D prototypes
How much can I claim?
If this is your first claim you’ll have the opportunity to cover the last 2 accounting periods. Your claim could be worth up to 33% of these total R&D costs assuming all the criteria for R&D tax relief have been met. The Easy R&D average claim size is around £40,000 with over 600 claims and 100% success rate.
Next Steps:
Would you be open to us facilitating claiming your R&D Credits? This doesn’t cost you anything (as we work on a contingency-basis only if successful). All we need is for our consultant, Paul Witcomb, to give you a call to discuss the things you can claim for in your business. Would you be open to a call? Please let us know and we will get our consultant to zoom call you at a time of your convenience.
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