Business Insurance

What are R&D tax credits and how can my business claim them?

So you’ve improved and grown your business.  Perhaps it took some new machinery, perhaps an expansion of your premises, maybe simply a rework of your internal processes.

You won’t have done it blind.  How did you research your new developments?  Think about what it cost you to take the leap, besides just time.

You won’t be surprised to know that the government wants businesses to take these calculated risks.  The key word here being ‘calculated’.  The UK’s SMEs are the backbone of the economy and the government wants them to flourish, not risk their viability by blindly experimenting.

What may surprise you is that they have allocated billions of pounds to incentivise this crucial research and development (R&D) through tax credits and only a small fraction of it is being used.

Why are they underused?

Mainly, the terminology can be misleading.  ‘R&D’ sounds quite technical and most people assume it refers to large multinationals, or science and tech companies.  This isn’t true.  Everything from a local printer to a financial services business can carry out R&D and it’s now easier than ever to check whether you can claim tax credits.  Simply ask us to do it for you – then you can sit back and wait for your cheque to roll in.

How much could I claim?

You can claim up to 30% of your R&D costs back through tax credits, which will be taken off the amount of tax you pay at year end.

They can also be backdated over a number of years, so make sure you consider all the R&D you’ve carried out.

Why get in touch?

There is no fee involved if you don’t win a claim.

We have a 100% success rate with R&D claims.

Our delivery partner deals directly with the HMRC from start to finish.

It’s a quick process – claims can be processed as quickly as 4-6 weeks.

We’ve secured an average of £35,000 per claim.

Interested?  Complete our appointment form and a member of the team will be in touch!

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Paul JohnsonGroup Financial Director

About Paul

Paul Johnson is very much a home-grown talent.

He joined Great Annual Savings Group in its infancy, fresh from a youth career as a professional footballer with Hartlepool United.  He quickly established a reputation within the business and aced all required accountancy qualifications in the space of four years to become the Group’s Management Accountant.

Several successful projects later, Paul was promoted to Head of Finance.  When the former FD left GAS, he took on the mantle of the business’ most senior finance professional; boasting a string of incredible achievements all under the age of 30.