Research and development (R&D) tax credits are a valuable Government tax relief that rewards UK companies for investing in innovation.
Many businesses aren’t aware that they are eligible for R&D tax credits. Could this include yours?
Most people imagine research and development to be the sole domain of scientists in white lab coats trying to find cures or develop new medicines, but the reach is very wide. R&D can take place across all sectors, from engineering to food manufacturing, digital to construction.
If your project seeks to create an advance in your sector, through the development of new products, processes or services, or you have changed or modified an existing product, process or service, there’s a good chance that you’re carrying out R&D.
You could benefit from a cash payment and/or Corporation Tax reduction. Even if your project was unsuccessful.
It’s a good time to claim
Clear Vision Accountancy are R&D specialists, providing an end-to-end claim service. Our clients enjoy tax credits amounting to tens of thousands of pounds and we are seeing that HMRC are paying out on R&D Tax Credit claims more quickly this year, so it’s a good time for you to make a claim.
Our claim support service includes:
- A comprehensive review of your accounts to identify qualifying expenditure
- An efficient assessment of your projects with your team to uncover all R&D activity
- Submission of a robust claim and amended corporation tax return to HMRC
- Management of all HMRC communications and enquiries