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My business is driven by technology – can I claim R&D Tax Credits?

By Linda Eziquiel

Maybe you are creating apps or adapting existing software for cloud delivery (SaaS), or creating tools to make sense of big data, or using CNC machines to mill complex parts, or developing wearable tech or designing new medical devices …… the list is endless.

Whatever your angle you will know that technology and what you can do with it, is constantly evolving.  But what you may not know is that the skills and knowledge you are investing into technology could mean you can claim generous Government support.

The questions to ask are:

  • Do I design innovative products or processes?
  • Do I employ technical staff or technical subcontractors?
  • Is there some uncertainty in how to go about getting the outcomes I’m seeking?
  • Do I spend staff time and money on my designs and developments?

If you do, then you really should check your R&D tax credit eligibility. It’s quite easy to find out, quick to do and will cost you nothing.

How do I check my eligibility for R&D tax credits? 

Actually it’s very easy…. most R&D tax credit specialists don’t make any charge for an initial assessment – and it can be done in as little as 10 minutes over the phone. All you have to do is call one!

What happens next?

You will want to know how much your claim is worth and again, most good specialists will make no charge to advise you on the potential cash benefit.

They earn their fee from providing you with support once you have decided to go ahead. They’ll help you to make the case for your claim to maximise the total value. Since the fees you pay for assistance are commonly contingent on success, it’s a low risk process.

What does it cost?

A competitive rate is around 18% of the successful claim value, although some R&D tax credit specialists charge much more… often because they use their internal accountant which adds to the cost. Usually, you can ask your own trusted accountant to submit the R&D claim for you and most accountants actually prefer that.

Any benefits you get go straight onto the bottom line, so they are a welcome ‘windfall’ especially considering that you did not know you were eligible in the first place.

Checking whether you can claim is quick, painless and costs nothing.

Interested in finding our more about R&D Tax Credits for your business?  Then contact Linda Eziquiel for a ‘no obligation’ chat about your eligibility.

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