95% of eligible businesses in the UK are failing to claim Research and Development Tax Credits, are you one?
The UK government set out a tax relief scheme several years ago to encourage companies to innovate. The aim of the programme is to provide valuable funding in the form of R&D Tax Credits to those businesses looking to create something new that benefits their company and perhaps others. As Britain strives to compete in a global marketplace the need to innovate to stay ahead has never been more vital. Luckily HMRC wants to help you do this by offering the opportunity to receive as much as a third back on the investment your business has made in research and development. But here’s the surprising point, less than 5% of companies eligible for this funding are making a claim!
Why aren’t HMRC being flooded with claims?
Mainly due to awareness and time. Like many of these schemes, the opportunity exists to only those who are receipt of the information. Most business owners are putting in long hours, running to stand still you may say. They don’t have time to seek the information let alone complete a dossier of activity that could aid a successful R&D Tax Credits claim. Datafox R&D Tax Credits specialists can help. (Claim Now) Engaging us on a no win no fee basis ensures your organisation invests minimal time in your application as we do all the legwork for you keeping you updated every step of the way. Making a claim can be a complicated basis, but Datafox keeps it simple allowing you to do what you do best, delivering on the next idea.
Free money, what’s the catch?
The R&D Tax Credits scheme is open to all limited businesses whether they make a profit or not. They can be big or small with the level of potential tax relief changing based on company size and profit or loss position. Many find what constitutes research and development surprising. Several business owners assume it’s only within the medical profession, but something simple as a recipe change within the food and beverage industry can be eligible for a successful R&D Tax Credits claim. (Find out more)
How do I get in on this?
You can start the process now by just contacting Datafox. We will work with you to gather the information required to make a successful claim; we should point out here that Datafox has a 100% successful claims record. From there, our team of R&D Tax Credits specialists will build and make a claim on your behalf. It doesn’t affect your tax position and costs within the previous two financial years can be considered. A claim can be made each fiscal year so long as development work has been undertaken with the claim process taking on average 5 to 6 weeks to reach a satisfactory conclusion. Often in the form of a cash back payment.
So what are you waiting on?