This is an annual cashback opportunity that many innovative businesses will be aware of. Even if you have made a claim in the past, there is every chance it can be improved on. This is an additional cash flow benefit that may be especially useful to businesses during the pandemic. You may be eligible for around 200% more than was claimed. How?
Rob Sowden of consultancy Business Cash Enabler advises: “Some businesses have received small amounts via a DIY claim or a claim compiled by their accountant, however, there is almost always additional cash benefit available, based on a detailed technical appraisal of the innovation activities. Receiving something back from HMRC is deemed as ‘success’, often without realising they left a pile of cash on the table.
Business owners/directors should ask themselves:
Of course, HMRC won’t know to point out if you have under-claimed, but they may determine that ineligible costs were claimed and seek repayment of some or all of the benefit received, potentially up to six years later. It’s a fair and most generous scheme but it does have rules.
Much safer to use a specialist claims management provider that assigns a technical analyst to assess all qualifying activities, write up both technical and financial reports and deal with any enquiry handling arising, all as part of a no-win-no-fee model, thereby posing no financial risk or loss to a business.
I have directed many businesses to a specialist provider that assigns a technical analyst and has a record of uplifting average values by 200% on claims already submitted. A free appraisal of claims already submitted is available. If there is nothing else to claim, there is his nothing else to do, and no fee, but it gives peace of mind. In the event that there is more, the provider will only charge its success fee on the additional benefit identified. Nothing to lose, everything to gain. If you haven’t claimed at all and are eligible, then there could be tens of thousands on the table, still within the 2-year claim window. If a year-end is looming, acting well ahead of that is critical to avoid potential loss of an entire year’s benefit.”
To help businesses evaluate eligibility headlines the following questions may be useful:
For more information visit www.businesscashenabler.co.uk
To arrange a free eligibility check email [email protected] or call 07732 627085.
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