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R&D Tax Credits
Tax Credits can be the factor that transforms and drives your business forward.
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As a business owner, you’re probably already undertaking some forms of research, or putting resources into improving other aspects of your business. This is exactly the kind of activity that can be funded by claiming R&D Tax Credits.
With our highly experienced know-how and expertise in claiming this financial benefit, we can help you take your business to the next level, whilst supporting you the whole way.
What are R&D Tax Credits?
The Government wants to incentivise businesses to undertake research to improve processes, procedures, and productivity.
Tax Credits give your business cash to achieve this, so you can invest in your next phase of growth whilst staying ahead of your competition.
Spending money on research and innovation makes you eligible to claim tax relief on this spend. This tax relief can be taken as either a cash payment and/ or a reduction in your Corporation Tax.
There is a wide spectrum of activity that can count as R&D, in virtually all sectors, so it’s a benefit well worth applying for. For first-time claimants, the tax relief will usually cover for your last two completed accounting periods.
How Do I know I’ll be eligible?
As long as you fulfill a few basic criteria set out by the Government, there is a very strong chance that you will be successfully eligible to claim an R&D Tax Credit.
- This being, that you are a UK Limited Company paying Corporation tax
- You are undertaking qualifying innovation, research activity (we’ll help you to identify this).
- You are or have spent cash to fund these activities
What Types of R&D Count when claiming?
There are many types of activities that can count as R&D and make you eligible to claim. Eligibility covers many business sectors and typically, the activity can be creating new products, services, or processes, or modifying and improving existing ones.
Our expert team will guide you through your application, ensuring you maximise your chances of receiving a successful claim
Next Steps, Making your R&D Tax Credits claim
At MMBA, we have helped hundreds of business owners to successfully claim R&D Tax Credits to fund future expansion, protect and create jobs and secure long-term growth. We can help and guide you through the whole process, making it fast and giving you the very best chance of a successful claim and swift access to your cash. To get started in your application, please email us at info@mmba.co.uk or call us now on 01772 378 020
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