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Monday, 5 October 2015

Member Blog: 5 Reasons to Make an R&D Tax Claim

By Managing Director of R&D Tax Claims Limited, Mark Evans FCA
Making your first R&D tax claim can seem like a big undertaking, but the reality is that there are so many benefits to putting your business forward. As a form of Corporation Tax relief, the financial return speaks for itself, but there are many other rewards too. Here are five reasons to make your claim:

1. Development of Your Business

The UK’s R&D Tax Credit Scheme is backed by government and designed to provide companies with the opportunity to develop their products and processes. If your company pays Corporation Tax and is carrying out R&D work that qualifies for tax relief, you will be able to put the money back into your business and the progression of your project, and that can only be good news for the future of your company.

2. Opportunity to be Best in Your Field

R&D relief will enable you to not only develop your businesses, but allow you to compete with other companies who operate in the same industry. Increased funding can have a huge knock on effect on your business’s ability to perform at a high level and really make it stand out from the crowd, especially if your competitors haven’t made an R&D tax claim.

3. Expansion Within Your Supply Chain

More funds mean that your supply chain process can become more efficient and expand, maximising the reach to your customers and, in turn, the volume of sales you make.

4. Nationwide Growth and Employment

Your successful tax claim has the potential to not only influence your businesses, but businesses throughout the UK. The more investment in your industry from whatever source, the better the outcomes for all involved – this can mean faster advancement and refinement of industry processes, resulting in economic growth and more employment opportunities.

5. Opportunity to Compete on the World Stage

A consequence of successful R&D growth within the UK is that these businesses can hold their own within the global market. As the UK provide one of the most generous R&D tax relief schemes, approximately £6 billion is available to be claimed by businesses every year. In short, the more companies that claim, the better the outcome is for the UK economy and R&D as a whole.

R&D Tax Claims Limited is here to help with all of the above. It operates a strict ‘no win, no fee’ policy, and its simple and risk free 6-step process enables it to take care of the hard work for you. The team has a long-standing relationship with HMRC and their efficient process ensures you get the maximum refund possible – to date they’ve secured clients in excess of £18million in tax savings. To find out more about how they can help you, contact the Shrewsbury or Warrington office today.

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