R&D TAX CREDITS – HAVE YOU CLAIMED YOUR FULL ENTITLEMENT?
Is your business currently seeking to make a scientific or technological advancement in your field? If so, the R&D Tax Credit scheme could be for you.
A family-run, precision engineering business has received £300k over the past four years as a combination of tax credits and cashback from the government as part of its innovation tax incentives, providing relief for costs incurred on research and development (R&D). Qualifying work can include any activity that involves unique innovation and bespoke problem-solving.
Many businesses think they have this covered because they have previously received a benefit, compiling a claim in-house or in conjunction with an accountancy firm. In reality, it is very time-consuming for the directors to do it this way as the business will invariably be asked by their accountant to compile a technical report. This presents the challenge of understanding what legislation allows and not claiming for projects that don’t qualify, and very frequently, not claiming the full entitlement.
Business Cash Enabler works with a claims provider that assigns a relevant technical analyst to assess a business and write up a technical narrative that complies with HMRC rules. They do the donkey work and operate on a no-win-no-fee basis. The business is only billed a percentage of the gain after the claim has been approved by HMRC, so there is no risk of being out of pocket. Even after the success fee, the client is in a better net position and has the assurance of a compliant claim that includes specialist support, should HMRC enquire.
Business Cash Enabler provides a free assessment service to advise businesses of eligibility, either as a first-time claimant or whether they may be able to claim back any shortfall on the prior two years.
For a free assessment contact:[email protected] or call Rob Sowden on 07732 627085