Getting your R&D tax credit claim right can make a huge difference to your business – claiming your full tax relief entitlement can provide a fantastic impact on your business’ ability to fund future product development. But there remains a significant lack of understanding in companies about the range of R&D tax credits available.
Simon and the team at Cooden Tax Consulting have helped a huge number of organisations across Hampshire to understand the scale of their R&D work, and then provide guidance and advice on making a claim for those projects that qualify. We are able to recognise valid projects and offer practical assistance on interpreting HMRC’s rules and regulations.
We work closely with you to help you completely understand the qualifying conditions. We can also help you review technical aspects of qualifying projects as well producing draft justifications for submission to HMRC.
What are R&D Tax Credits?
Established by the government in 2000, the R&D Tax Relief Scheme is used to reward businesses for innovation and to help support business growth. R&D tax credits are a resource that businesses can use in order to more cost-effectively invest in research and development opportunities in order to help them grow.
When businesses spend money on developing products, processes or services, or enhancing existing ones, they may be eligible for R&D tax relief. R&D tax credits are claimed as a reduction in corporation tax for companies in profit, and in the form of a cash payment in the event of a tax loss in the financial year.