The HMRC R&D Tax Credits scheme is not just for the men in white coats!
Intellectual Property makes a great case for R&D Tax Relief.
“Innovation is the development of new products, services and processes, which may
be based on cutting edge research. Improving the UK’s innovation performance is an
essential component of the Government’s growth plan.
“A large body of evidence shows that innovative economies are more productive and
faster growing. They deliver higher returns on investment and increased living
standards. They are better at responding to changing circumstances through
redeploying old activities and jobs. They are more able to find solutions to global
challenges such as reducing dependence on fossil fuels, helping people live longer
and healthier lives.
“UK businesses have to invest more in innovation activities to grow. Innovative
businesses grow twice as fast, both in employment and sales, as businesses that fail
“Innovation will drive the competitiveness of our businesses in the global economy. In
technology-based sectors, research is a primary driver of innovation, and research can
also discover and exploit new technologies, sometimes giving rise to new industries.
In other sectors the rapid adoption of technologies and the development of intangible
assets are essential to innovate, sometimes transforming existing industries.”
Government’s Innovation and Research Strategy for Growth
Every day in the life of Datafox is like throwing a surprise birthday party. We leave people speechless when informing them that their product, service or Intellectual property qualifies for an R&D Tax Relief claim. There is a great myth that only the scientific industry can benefit from the scheme. It is designed to help all businesses who look to develop something new as can be seen in the government statement above. Intellectual property is a significant basis on which to make a claim. With your assistance, your clients jumped through many hoops to achieve their Trademark status or had original work applied with a copyright or patent. So why not also help them get something back?
Intellectual property is a valuable financial asset and as such, can give rise for businesses to qualify for UK tax relief schemes like that of R&D Tax Credits.
The HMRC research and development scheme is the single largest support for UK business, designed to encourage innovation and global competitiveness by allowing companies to reclaim some of the money invested in qualifying R&D development. The main criteria are determining whether an innovative company is seeking an advance in knowledge or improving a product or service, and resolving uncertainties in the process.
Datafox partners with Intellectual Property Legal Specialists across the UK, providing a tax service that benefits both their clients and their practice. Working with you to spread the word across your businesses network will bring significant rewards in the form of introducer fees.
Datafox offers a very rewarding Introducers Agreement; The R&D tax credit can equate to up to 33p for every £1 spent on qualifying costs. Thus, if a UK Ltd company spends £150,000 on qualifying R&D, they could receive up to £50,000 as cash back. As an Introducer, you will get a percentage of the amount recovered by simply introducing us to your client.
Let’s start by giving your clients a nice surprise today!