RESEARCH & DEVELOPMENT TAX CREDITSKnowing what it is, and what it isn't.
R&D tax credits are tied directly to corporation tax, and so companies have to be limited and have to be trading for at least one year to qualify.
It is a government funded initiative that looks to encourage and protect innovative companies who are willing to take risks. It rewards companies that seek to advance their industry by taking on new challenges or looking to improve on existing ways of working.
From integrating databases with websites through to developing novel construction methods that reduce waste and time; R&D can be broad.
With that in mind, we have put together some industry and business specific guidance to help establish whether R&D is something you might be doing by posing some simple scenarios that help establish if R&D is being done.
So check out our list of industries and see if you qualify or use the contact form at the bottom of the page to book a chat with a consultant to discuss your business.
We help, every step of the way
R&D is by its very nature a technical subject. So HMRC require a quite specific methodology in order to evaluate a claim. Our 4 step process enables us to maximise your claim value by not missing any of the key information that exists within your company while keeping your workload light and your stress minimal. We take the pain and the strain, out of the claim.
This is a short 30 minute interview. We provide a little R&D background but mostly we just listen to you talk about your business and your project, occasionally popping up with helpful questions.
After we have looked at the accounts we can produce the skeleton of the claim.
This internal process is completed when we present you with the rough what, where and how much proposal.
It’s at this point we usually get an audible ‘Yes!’ from you.
Depending on the size and complexity of the claim, this is where collaboration will mostly take place.
We will interview your staff and liaise with you about the finer points of your project, ensuring every pound is accounted for and that we are fully equipped to handle the great big machine that we call HMRC.
Once you are happy with all of the information we submit your claim for you and HMRC will process the documents before paying the money directly into your account.
This is typically a 28 day process.
Featured R&D Elements
3D Product Design
Manufacturing, Architecture, Engineering
We have undertaken or outsourced the creation of 3D design elements for a new product, building or structure. 3D photo realistic digital prototypes, physical prototypes, print ready files or manufacturing specifications would all be added bonuses in this R&D activity.
Database Integration – WordPress Plugin
Web Development, WordPress, Marketing
We have custom built a plugin that enabled the integration of a database or specific piece of software that previously wasn’t able to or had limited functionality within the WordPress environment. The new plugin allows for greater functionality and control for the website owners.
Non-Standard Construction Methods
Construction, Architecture, Engineering
We found ourselves on a particular building project where the usual method of construction wasn’t possible due to restricted access, phasing restriction or changing site conditions. To overcome the problem we had to use an alternative method of construction in a novel way or create a new method completely.