This specialist area of tax credits for R&D, scientific and Technological advances is incredibly complex and there is still a chronic lack of awareness in business about the R&D tax credits available. Claiming full tax relief entitlements can have a significant impact on a business’s ability to fund future product development.
Simon has helped numerous businesses in London to investigate the scope of their R&D work, providing guidance on claiming tax credits for qualifying projects. He is able to recognise and scope valid projects and offer practical interpretation of HMRC’s technical rules and regulations.
We will work with you and your team to ensure you understand the qualifying conditions, help review the technical aspects of qualifying projects, and produce draft justifications for submission to HMRC.
What is R&D Tax Relief?
The R&D Tax Relief Scheme was set up by the government in 2000 to reward innovation and fuel business growth. R&D Tax Credits are a valuable resource to businesses to invest in and accelerate research and development opportunities and ensure business growth.
Businesses that spend money developing new products, processes or services, or enhance existing ones, are eligible for R&D tax relief. The R&D Tax Credit can be claimed as a cash payment in the event of a tax loss in the financial year, or if the company is profitable, as a reduction in corporation tax.