Research & Development (R&D) tax credits are available to UK companies who are carrying out R&D as part of their trading activities. R&D involves overcoming technical or scientific challenges to develop something new. The ‘something new’ can involve bringing an entirely new product to the marketplace or simply developing a new process to improve efficiencies.
Where a company qualifies, it can claim very generous tax reliefs from HMRC. The reliefs can reduce corporation tax liabilities or may even result in the payment of a tax credit from HMRC (a welcome cash flow boost to those companies who make successful claims!)
With an exceptional track record of making successful claims for R&D tax credits, Bracey’s tax team make claiming R&D much more straightforward for your business.
Often clients find it difficult to determine if a project or activity qualifies as R&D. We make it simple by making sure that we thoroughly understand your company and the activities it carries out. We will only advise that you make a claim if you qualify.
R&D tax relief claims are made on a company’s corporation tax return. A technical report to explain why a project qualifies as R&D must be submitted alongside the tax return.
We break down every step of the report writing process into bite-size chunks; ensuring that the report is focussed and covers exactly what is required to get approved by HMRC. This leaves more time for you to focus on running your business and continuing to innovate whilst we ensure the report meets HMRC’s requirements.
Having a thorough knowledge of your company allows us to ensure all relevant R&D costs are captured in the claim for relief, maximising the benefit to your company.
If you already use a tax adviser or accountant to prepare your R&D tax relief claim and find the whole process stressful, you should speak to us. We pride ourselves on making the process as simple and efficient as possible.
We also offer a free 30-minute consultation to help you determine if your company’s activities qualify for R&D tax relief.
What our clients say
« Bracey’s have provided us with a whole host of advice – personal tax, PAYE, R&D claims, Corporation Tax, payroll & pensions. As with a lot of businesses, we have randomly been selected for a VAT enquiry from HMRC. This can be quite a daunting occasion for a small business but the team from Bracey’s attended our offices to offer HMRC any information they needed and they conducted themselves in a capable, unfazed manner «
« Bracey’s have dealt with a number of areas as part of my tax return including foreign exchange income, online sales, buy to let income, VAT registration, advice regarding companies house and everything else in between. Nothing has been too much trouble or too complicated. «
« Bracey’s have been instrumental in streamlining my invoicing procedure, they are speedy with their responses, friendly and always extremely patient; which if you knew me, is really needed! Braceys have provided me with accounts/tax/invoicing and all the usual; but on top of this, advice on a whole manner of situations that arise in my business. «