The UK government's Research and Development tax relief scheme is one of its most powerful tools for helping businesses to solve problems and push forward. It's already rewarding breakthroughs and ingenuity in every part of the economy, but word about it still isn't getting out far or widely enough. Financial services are right at the heart of the UK's economic hopes in the wake of the banking crash, but too many people still don't realise that they have a claim.
It's About Solving Problems, Not Equations
When most people think of R&D, they picture test tubes and Tesla coils - but there's so much more to it than that, and there's more of it going on in the world of financial services than you might imagine. Simply put, you might have a claim if you're:
Trying to push the limits of what we know, or what we can do.
Working to make things more secure or efficient.
Benefiting more than just your own business.
Only to name a few...
What R&D Tax Relief Means for You
Depending on the size of your business and the work you're doing, the scheme could mean anything from a welcome boost for a specific project to a life-saving cash flow injection for your entire company. Here's a quick rundown:
Large businesses can claim 130% tax relief on their qualifying costs.
For small or medium-sized businesses, that rate reaches an incredible 230%.
Even if you've made a loss or your R&D never comes to full fruition, you can still get help.
The R&D tax relief scheme is about encouraging big thinkers, whatever the size of their business - and RIFT Research and Development has the expertise to make sure that innovation is always rewarded.
R&D for Financial Services
The thing that most businesses stumble over when dealing with R&D tax credits is working out which of their costs and projects qualify for the scheme. They don't all leap out at you when you think of Research and Development, so it's worth looking closely at things like:
The new methods you're developing for collecting and handling information, or separating the "signal" from the "noise".
How you're making new and existing systems work together.
The ways you're tackling the stresses on your systems' capacities.
The steps you're taking to meet government regulations efficiently.
How you're making existing methods more efficient, reliable or versatile.
RIFT Research and Development are the experts in R&D tax credits. We'll let you know if you've got a claim, and make sure that great ideas always pay off. We know HMRC inside and out and have a 100% success rate, so get in touch now to make the most of the scheme.
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