R&D Tax Credits - Have you made the claim?

Alan Moore MBA FCCA
Tax Partner
E-mail: admoore@hwca.com
Direct Tel: 0113 398 1134

The changes to the Research and Development (R&D) tax relief regime, which were announced in draft format at the end of last year, have now been issued in their final form.

As a result of the changes to the R&D rules and regulations it may now be easier for some Companies to claim R&D relief than it was before.

If you employ engineers, scientists, software developers or technicians, have developed new products, or significantly improved existing products, developed software in house or have improved an existing manufacturing process, you could be eligible to claim R&D tax relief.

The benefit of R&D tax relief can be substantial, and the benefit can be a cash credit to your business that is worth up to 24.5% of your Company's expenditure on Research and Development.

For example if you employ say 4 software developers performing eligible work on a salary of say £25,000 each, you could be entitled to a cheque from HMRC for £24,500 under the R&D tax credit scheme.

Our staff have assisted all sizes of Companies with R&D tax relief claims and we are available to provide you with expert advice. We frequently work on a 'no win no fee' basis and will only charge you if your R&D claim is agreed by HMRC.

Should you be interested in a no obligation meeting to discuss your potential claim please give me a call or send me an e-mail.