Research & Development tax relief was introduced in the year 2000 as an incentive to drive business innovation and therefore wealth creation in the UK. Even up until recently, Chancellor Philip Hammond insists the UK’s R&D tax relief scheme is “globally competitive”. To be fair the Government seems to be putting the money where it’s mouth is in terms of … GO TO PAGE ….
Figures from earlier this year reveal that of the 22,445 claims across the UK totalling £2.45bn in tax benefits, only 2,200 claims came from companies in the North West and resulted in just £130m received in tax benefit. The Northern Powerhouse vision by the Government sets out to break down the North/South divide and create economic growth and prosperity in … GO TO PAGE ….
In the Autumn Budget yesterday, Chancellor, Philip Hammond provided the largest boost to R&D support for 40 years with a further £2.3 billion allocated. The Government has set out a long term plan to boost UK productivity which sees “an economy driven by innovation that will see the UK becoming a world leader in new and emerging technologies”. Philip Hammond … GO TO PAGE ….
However they are not being claimed… As it stands, the UK’s average science and technology Research & Development spend trails far behind that of competing nations such as France, Germany, and Japan. According to OECD figures, Britain spends 1.7 percent of GDP on research and development – below the average of 2.4 percent. However, the Government is acutely aware that … GO TO PAGE ….
“We DIY our Claim” “Our Accountant does our claim” A payment granted does not necessarily mean a Research & Development claim has been approved. Misinterpreting the guidelines could lead to an enquiry by HMRC. If this leads to further enquiries for previous years resulting in downtime and a liability then this could even threaten a Company’s existence. We are aware … GO TO PAGE ….
Embedded Capital Allowances – Millions in unpaid tax relief It is a good start if your Accountant recognises that your claim requires a specialist survey, at least then you have a fighting chance that your claim will include all claimable expenditure. Are you claiming the Embedded Features and Fittings within a commercial property that are essential to carry out your … GO TO PAGE ….
The Government understands that if the UK is to remain competitive, then R&D is vital. If you are not convinced by us, then please study the Governments autumn statement (November 2016), along with various election manifesto’s, (May 2017) which refer to the UK having to stand alone, with investment into R&D being imperative. R&D incentives not only appear to be … GO TO PAGE ….
Research & Development Tax Claims There are two areas of legitimate tax claims that have been under utilised for many years. These are Research and Development claims, and Embedded Capital Allowance claims. This week we take a look at Research and Development Tax Claims. The misconceptions: Contrary to popular belief this area of tax planning is not restricted to ‘white … GO TO PAGE ….
What our Partners say: ‘Thank you for the prompt payment – at last a business partner that actually does what they say’ ‘Great to be involved with you, you respect my interests and deal with my Clients in the manner I would – keep up the good work’ “We introduce our clients to R&D Claims for the simple reason … GO TO PAGE ….
We would like to thank you for supporting The R&D Claims Company since inception 12 months ago. As you are probably aware, although the company was a ‘start-up’ in May 2016, the team behind the business have a wealth of experience spanning over a decade in this complex, under claimed, under promoted sector. The company is pleased to report that … GO TO PAGE ….
