Tax Credits

Are You Missing Out?

Is your company missing out on the opportunity of Research and Development Tax Credits? If you are a Limited Company and are actively developing your organisation, its processes and products, you may well be entitled to receive Research & Development Tax Credits.

Typically, the British Government have set annual budgets of around £8 billion but less than £500m of this has been claimed by SMEs. Research & Development Tax Credits were established by an EU Directive. Although imposed upon National Governments, they are not, however, obligated to advise potential recipients of their availability. As a result, it is estimated that less than 10% of eligible companies actually make a claim and some of these miss out on the total amount available because of the complex nature of the submission process.

Your rights to claim extend to each of the previous two financial years. Once the year end is passed the first of your current historic years is lost for good. Even if the year-end is not imminent, the sooner your claim is evaluated, the sooner you will have cash back in your business; the end of your current tax year does not impact your ability to claim for the previous ones.

Understanding the EU Directive is key to making a successful claim and in our experience no two claims are the same. However, successful claimants will receive a tax-free cash settlement. Working in partnership with you, we undertake all of the research, submission and associated costs on a no win no fee basis. Our fee only becomes payable once the process is complete and you have received the benefit of a successful claim.

The process is very simple. Our researcher will take you through a series of specific questions (usually taking about 20 minutes) to gather information, which will help formulate the basis of your claim. Once we’ve established your right to claim and our findings have been approved by you, we submit everything to HMRC. If you’ve considered the possibility of a claim but hadn’t thought you were eligible why not give us a call to talk it through?

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Don't Miss Out:

  • If you are actively developing your organisation, its processes and products you may be entitled to Research & Development Tax Credits
  • Actually less than 10% of eligible companies actually make a claim
  • £8billion set aside but less than £500m has only been claimed by SMEs
  • No win no fee basis
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