Tax Relief Credits London
Need help claiming R&D tax credits? Our director, Simon Bulteel, is a Research and Development tax-relief expert, together with the rest of the team we are able to offer advice and professional help to businesses in London and across the UK.
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.
What costs qualify for R&D Tax Relief?
Qualifying expenditure for any R&D Tax Relief claim includes:
- Employee costs, such as gross salaries, employer NI contributions, pension contributions and certain reimbursed expenses
- Freelancers and subcontractors
- Consumables, such as water, fuel and power that is consumed or transformed during the R&D process
- Payments to the subjects of clinical trials
R&D tax credit services we offer
Cooden Tax Consulting can assist with all areas of R&D and Technology Tax Reliefs. Services include:
- R&D Tax Relief (the SME scheme and RDEC (Research & Development expenditure Credit)
- Video Games Tax Relief
- Patent Box
- Proofreading Claim Reviews
- Tax Enquiry Support
Cooden Tax Consulting are a small but long established and successful R&D tax credit consultancy firm assisting a wide range of businesses to maximise their R&D tax credits. To date we have submitted claims in excess of £11m for a wide spectrum of businesses, with a great success rate.
The area of R&D Tax Relief is highly specialised and is therefore not comfortably covered by most accountancy practices. Simon Bulteel and the team at Cooden Tax Consulting have the extensive knowledge and experience required to guide any business through the complex legislation of Technology Tax Reliefs.
Simon will work collaboratively with you and your appointed accountant to calculate, validate and complete an R&D tax claim. He has helped numerous businesses across the UK navigate the complex legislative process and make successful claims.
Simon and the team have an outstanding reputation, the proof of which can be seen in our testimonials here.
We saved £64k with R&D tax relief. Simon is brilliant. He scores 10 out of 10!
You really need a specialist for R&D tax relief. Simon saved us £140k+
You really need a specialist for R&D tax relief. Simon saved us £140k+
As a start-up with a unique mobile app, saving £8k+ in tax is a big deal.
Dev Subatra - Founder, Fidel
Fidel Limited – Fintech Loyalty Rewards Technology – saved £50k+
This was a complex development project that involved an extensive and expensive collaboration with Visa and Mastercard to connect to their data feed. The API needed to be compliant with the PCI framework – the Payment Card Industry Data Security Standard.Read the Full Case Study
Max Windheuser - Director, Evinox Energy Ltd
Evinox Energy Ltd – Heating Systems – Saved £140k+
There were several separate projects making up claims for R&D tax relief. One of these was the development of an improved heat interface unit. It was designed to be a combined boiler and tank, with connections to a wider system for heating multiple occupancy accommodation.
In its new design the company sought to improve the efficiency and unit cost of manufacture by introducing a new efficient pump, developing new (and less) control valves, as well as an intuitive ViewSmart Room Controller, that incorporated their own PaySmart pre-payment technology, to allow for centralised reporting and billing.Read the Full Case Study
Ben Turney - CEO, Teathers
Teathers Financial Software Limited – Fintech Investment App – saved £79k
Teathers research and development work was based around innovative software development (Software as a Service – SaaS) and a new private investor experience concept.
The Teathers App is an execution-only platform. When an AIM-listed company raises money, “onboarded” users of the Teathers App have the opportunity to get involved.
Users are onboarded by downloading the iOS or Android app and completing an account application process. This sets up an execution-only brokerage account with Shard Capital.Read the Full Case Study
Richard Moore - MD, The Source
The Source – Subterranean Skatepark – saved £26k
The skate park build was very complex and needed a great deal of scientifi c construction research before it could go ahead.
The site dates back to the 1800’s and had been derelict for approximately 18 years. It was originally a swimming pool that also had (and still does have) a full basement of water. The whole footprint of the building is part of a natural stream and water from the roads drain down into the space.
This creates a marine environment. Calculations were required for understanding how timber ramps would expand and contract with the humidity, for example.Read the Full Case Study
Andy Johnson - Director, Cosmarida Limited
Cosmarida Limited – Cosmetics Manufacturer – Saved £49k
Cosmarida work in an industry where formulation development is an ongoing R&D process. The skincare and toiletries products are constantly being refreshed with new fragrances and
Despite working to a “brief” from their customer for most product developments, the company were able to qualify for the SME tax relief scheme because the brief was vague. Cosmarida had to experiment with different combinations of fragrances and ingredients to produce a number of samples and make multiple changes to get customer approval. Even then the R&D work isn’t finished.
Scaling up from a small 100ml pot to a 1,000 litre test batch and then a 10,000 litre first production batch, still represent significant challenges. As well as the product manufacturing, the company has also designed and built machines for unique packaging requirements.Read the Full Case Study
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We’ve found that an initial 15-minute phone call is normally sufficient for us to determine whether there is some potential in a project. Choose a date and time to schedule in your free, no obligation call with our experts.BOOK A FREE CONSULTATION
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