Tax relief, or tax credits if you made a loss, can be claimed by any UK limited company, the average benefit is running at £40,000 per company. To work out if qualifying R&D is being undertaken, look back on the last three years and ask these questions:
- Has the company created any new products, or significantly improved existing products?
- Has the company undertaken any work to improve processes or manufacturing systems?
- For service organisations, have any technology projects been used to improve efficiency?
If your answer to any of the above questions is yes we suggest you talk to one of our specialists to check out whether the company may qualify for R&D tax relief or credits.
To discuss this with us on a non-judgmental, discrete and no cost basis call our helpline 0800 001 6686 or contact us today.
Gary Brothers and Mike Leigh are regular contributors to a number of professional forums. The current blogs are here, and our archived blogs can be found by checking on the link below.