Did you know that only around 10 per cent of firms that are eligible for Research and Development (R&D) Tax Relief actually claim it?
Very few business leaders know that R&D Tax Relief is available to any limited company that is trying to achieve an advance in science or technology within their industry. The day-to-day activities of thousands of SMEs qualify for the scheme, and the relief available can be game changing for firms who want to achieve their growth ambitions.
R&D Tax Relief explained
Research and development (R&D) tax relief is a Government initiative designed to reward UK companies for investing in innovation. The initiative allows limited companies to reduce their Corporation tax liabilities by a further £24.70 per £100 spent on qualifying activities. R&D tax credits also allow loss making businesses to reclaim cash from the Government at a rate of £33.35 per £100 spent.
What activities qualify?
R&D Tax Relief Calculator
Using our extensive experience in this field, we want to help more businesses identify which elements of their work qualify for R&D Tax Relief, helping them unlock hidden capital so they can put it to best use within their business. If you’re keen to work with an accountancy firm which will help you grow your business from an R&D cash injection, or one which helps break down the jargon of accounting and tax legislation, please get in touch.
Why Choose Champion Accountants