Tax incentives for R&D have received a major boost in recent years and now include R&D Tax Credits for revenue costs, Research and Development Allowances for capital costs and a low tax rate for income derived from patentable technology.
Over £1billion in tax a year is repaid to companies via R&D tax Credits. If your company is involved in improving or developing new products or processes including in-house software or undertaking research for other companies then you could be claiming a valuable cash benefit.
At a time of increasing costs and squeezed margins every penny counts and Clay Shaw Thomas can help you to make sure that you are not missing out.
We have been assisting all types of companies in making claims since the relief was introduced in 2000 including small start up ventures, established businesses and large enterprises with international links. We have developed an efficient process that works and is accepted by HMRC. Our success rate is 100%.
The relief can either provide you with cash back of 25p for every one pound you spend on R&D or alternatively reduce your tax bill by between 45p and 56p for every one pound you spend. Also if you are subcontracting out the development the relief may still be available.
If you are unsure whether you qualify or not then call Denise Roberts or Sarah Curzon for a free consultation. Our specialists are passionate about the opportunities that R&D tax reliefs can provide and have a wealth of experience in making successful claims for companies in all sectors including manufacturing, engineering, software, renewables and aerospace.
So whether it’s R&D Tax Credits, R&D Allowances at 100% or the new 10% rate Patent Box provisions don’t hesitate to call us and check out your eligibility.