Research and Development Tax Credits
Valuable funding for innovators and high tech companies
HMRC R&D tax credits allow businesses to offset R&D costs by either reducing their corporation tax bill or obtaining cash rebates for a loss-making business. It’s a valuable funding source and recent improvements to the R&D tax relief system announced in the 2011 Budget now make it more accessible and valuable for entrepreneurs and owners of growing businesses.
The majority of companies eligible to claim R&D relief are hi-tech businesses – software developers, specialist manufacturers or biotech companies for example. Previously, tax relief available through the R&D tax credit system has been hard to access and of limited value to smaller firms and start-ups that are still unprofitable. But there are no longer the drawbacks and R&D tax relief could become a very useful means of financing innovation for qualifying companies.
Would you qualify for R & D credits?
Identifying whether a business is eligible for R&D tax credits and managing the often bureaucratic applicative process can be complex, costly and time intensive – it’s a specialised field of tax planning. Why should you take time away from running your business to investigate the opportunities? Or incur professional fees should the application be rejected?
Inject additional free cash into your business or start up
Bracey’s Accountants R&D department has many years experience concluding successful applications for clients and offers a low risk, comprehensive service on a no-win no fee basis.
Tax refunds claimed have amounted to tens of thousands of pounds and with the relief now at 200% of qualifying costs, increasing to 225% in 2012, it is more valuable than ever.
If you think there’s even a small chance R&D tax relief could apply to your existing business or idea for a new start up, investigate the possibility with our tax specialists.
We take on claims based upon a no win; no fee approach and will manage the entire process from advisory through to tax refund stage.
We provide a free initial consultation on a no obligation basis.
Research and Development
Recent changes in legislation have made it even more appealing to have your business reviewed to see if there is any chance of a Research and Development claim.
From 2012 the relief available increases to 225% of qualifying expenditure. Unfortunately not all accountants are technically able to recognise these opportunities. If you are unsure, speak to Bracey’s Accountants, no win, no fee = no brainer!
“I had used a sizeable regional accountant for many years before I was introduced to Bracey’s Accountants. I had no idea that I was eligible for tax credits until Bracey’s took over. The R&D team looked after everything, making the whole process refreshingly straightforward; I would not hesitate in recommending them. ”