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Monday, 2 November 2015

Member Blog: Are you missing out on R&D tax relief?

By Managing Director of R&D Tax Claims Limited, Mark Evans FCA

Since 2009, the team at R&D Tax Claims Limited has successfully helped over 200 UK companies to save a staggering £21 million by helping them to make successful R&D tax claims.  This is an important milestone for us and we hope it goes to show just how much we’ve aided businesses from a wide variety of backgrounds to reinvest and grow over the past few years.

The UK provides one of the most generous R&D tax relief schemes in Europe, with around £7 billion available to SMEs to claim every year, so make sure your company isn’t missing out on what it’s entitled to.

R&D Tax Relief is a government backed tax incentive designed to give companies the encouragement to develop new and / or improved products and / or processes.  If your company pays Corporation Tax and is carrying out activities which qualify as research and development, you may be able to claim back tens of thousands in tax which could then be reinvested back into your business, great news for the future of any company..

Contrary to popular belief, R&D tax claims don’t have to be a long drawn out process.  We make sure all our clients’ claims are handled in the most efficient manner possible and with our expertise clients can receive their tax refund within just six weeks of submission of the claim to HMRC.

It’s a common misconception that R&D tax claims are only available to companies which design their own products such as OEMs but in fact many 1st, 2nd and even 3rd tier subcontractors can also qualify. Recent statistics suggest that many SME subcontractors have little awareness or understanding of the R&D benefits available to them and could be missing out on thousands of pounds in unclaimed tax credits.

So, how have we achieved these impressive tax claims? Well, our success is down to our vast technical knowledge of R&D, along with our long standing relationship with HMRC.

It allows us to recognise whether a claim qualifies for R&D tax relief quickly, at absolutely no risk to our clients. We operate a strict No-Win No-Fee policy, so you can be sure that we’ll only put forward your claim if we think you’ll be successful and with our 100% success rate, you can be sure you’re in safe hands. The average annual tax saving achieved for our clients is over £35,000. This annual “bottom-line” saving means a successful R&D claim has the power to completely revolutionise your business.

If you’d like to find out more about how we can help you to make an R&D tax claim, get in touch with our Shrewsbury or Warrington office today.

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