The UK government offer an R&D tax relief incentive scheme for limited businesses.
The qualifying criteria are varied and often overlooked by eligible businesses.
Eligibility – Has your business done something new lately?
At the core of all possible claims is that your company has done something new, something that benefits your business and may also benefits others. Every day organisations dedicate significant management time to advancing all aspects of the business from technology to operating procedures, from customer service to dealing with waste. Whatever the advancement it could lead to a possible successful claim.
Here are a few qualifying questions to ask:
Has your business:
– Created or adapted new machinery, software, hardware or office equipment?
– Advanced software, operating systems, working practices or staff development programmes?
– Developed new product or products, recipes, formulas for science or algorithm’s?
– Designed new technology, processes, environmentally-friendly packaging?
– Innovated in any way?
Just some of the questions to ask but indeed not the only things to consider.
Claims – It’s about building a case not ticking boxes.
Once the area of the application is identified the process, it is about creating the detailed narrative to the claim. Successful R&D Tax Relief claims are much more than just ticking boxes. The ‘ducks’ must be lined up to achieve the desired outcome. The narrative must be supported with accurate and reliable numbers. Imagine you were on the receiving end of a desk full of claims each day, those presenting the easiest way to refuse will be rejected. The claims that have been prepared professionally, with a strong narrative case and with detailed relative figures, will be successful. Just ask our team of R&D tax relief experts. It takes real skill to achieve a 100% claim success rate as they have done.
Audits – Not all R&D Tax Credit Specialists are the same.
Surprisingly, 95% of eligible businesses are still not making a claim, and of the 5% that do many are missing out on the maximum benefit to be obtained. In a market, that provides such a labour-intensive service on a no win no fee basis, you will often find many ‘stack them high and sell them out cheap’ operators. Datafox couldn’t be further from this business model. Quality rather than quantity is our mantra for businesses of all sizes no matter the potential claim size. Our R&D tax relief team will take the time to ensure they do the necessary legwork to bring about a winning claim. Carried out in a way that limits the time you need to invest so you can get on with your daily business life without disruption.
Start your R&D tax relief claim now, and in a few weeks’ time, you might be in for a big surprise.