Research and Development Tax Relief
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RESEARCH AND DEVELOPMENT TAX RELIEF FOR BIRMINGHAM AND KENSINGTON, LONDON
Research & Development
Research and Development (R&D) relief rewards companies that are innovating in their field. If your company is creating or developing a product, process or service (internally or externally) then you could qualify for a Research and Development tax credit or rebate.
Please complete the following short questionnaire to see if your company may qualify for a valuable R&D tax benefit.
Once completed a R&D Tax Consultant will be in contact to discuss your possible claim further.
There are still companies not claiming this hugely valuable tax relief, or not taking its full benefit. This is partly because there are a lot of misconceptions surrounding the initiative.
R&D covers companies in virtually every industry which are undertaking some form of innovation; this will include companies operating in the software, internet and communications fields.
Facts & Figures
From April 2015, the tax relief on allowable R&D costs is 230% – that is, for each £100 of qualifying costs, your company or organisation could have the income on which corporation tax is paid reduced by an additional £130 on top of the £100 spent. This means that for every £100 spent on R&D a company could receive £26 back from the HMRC as either a tax rebate or tax credit.
Alternatively, where a company is lossmaking, the SME can choose to surrender their loss and receive tax relief by way of a credit – a refund from the HMRC of up to £33.35 for every £100 spent on R&D activities.
Here at Morgan Reach we feel that companies are losing out on claiming R&D relief because they are not aware of the criteria to be eligible for R&D relief.
Let us help you with this process to see if you are able to claim R&D relief, please do complete the questionnaire above.