R&D tax relief is available to any company developing new processes or products that advance science or technology, even in a modest way, by resolving an area of uncertainty.
The financial benefits can have a significant impact on a company’s corporation tax position. Since April 2012, SMEs have been able to claim R&D relief of 225 per cent of qualifying expenditure, with no minimum spend, allowing them to claim £225,000 for every £100,000 of qualifying R&D costs.
If they are loss-making, they can claim a tax credit, which can be worth as much as 24.75p for each pound of R&D expenditure and bring an immediate cash flow advantage.
Milsted Langdon’s specialists in Bath, Bristol, London, Taunton and Yeovil can help companies of all sizes to make the most of the R&D regime. Our success-based fee structure means we are only paid when the company receives the tax benefit, so the process is zero risk.
We’ll guide you through the R&D regime, prepare your claim to help give you the greatest chance of success and liaise with HM Revenue & Customs on your behalf. We can also advise you on issues like improving record keeping, so that you can better track all future activities involved in the R&D process, and the costs, so that claims are made for all eligible expenditure.
Because we make sure we understand our clients’ businesses, we don’t look at your R&D in isolation. We will build your R&D into your business planning so that you can use tax credit benefits as part of an ongoing strategy to grow your business and keep moving forward.
For more information, please contact us.