Could Your Company Save With R&D Tax Credits?
This government incentive is designed to encourage companies to invest in innovative projects in science and technology and claim relief on qualifying costs even if the project is unsuccessful.
Those eligible may benefit from huge savings by reducing the amount of profit which is liable for Corporation Tax.
It may come as a surprise for people in many industries that much of the work they undertake to grow their business can qualify for significant tax credits. This tax relief can help fund the technological advances you need to keep your company competitive, by reducing your tax bill or providing you with significant cash back.
- Is your company attempting to develop a new product?
- Is your company trying to achieve something that has a level of uncertainty?
- Is your company modifying an existing product or process?
If you answer ‘yes’ to any of the above there’s a chance you are undertaking qualifying Research & Development.
Case Study
Tax Advantage for Electronic and Mechanical Client
FDT GB Limited, based in West Sussex, specialises in the supply and design of equipment, custom electronics, bespoke systems, redesign, manufacture and service of any type of monitor, CRT or flat screen. An R&D Tax Credit claim resulted in a refund of tax generated and a total tax saving of £…
R&D activities are not confined to companies in the technology sector. Claims can be made across a range of sectors including the following to name just a few:
- Aerospace & Defense
- Alarms, CCTV
- Automotive Industry
- Chemicals, Paints, Adhesives
- Construction, Building Materials
- Engineering
- Environmental Remediation,
- Software Development
- Food & Drink Producers & Processors
- Games, Software Industries
- Lighting
- Manufacturing
- Marine
- Pharmaceutical
- Waste Recycling
Please visit our website for more sectors…
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