Research and Development Tax Relief is an amazing resource, but the message just isn't getting out fast enough. Even worse, far too many businesses are missing out because they don't realise that it even applies to them, or can't take the time away from their projects to deal with it.
The UK is ranked as the second most innovative nation in the world, and RIFT R&D is leading the way in getting businesses the credit they deserve. If your company pays Corporation Tax and is out there solving problems and making a difference, then you could qualify for the government's R&D tax relief scheme - even if you're not making a profit doing it!
With an average Research and Development Tax Relief claim being worth £49,000 right now, it's time you made sure you're getting enough credit for your innovations. Tracking down all your qualifying costs and projects can be worse than looking for a needle in a haystack, because what you should be looking for is actually a very specific, extremely crucial piece of hay!
There are a very wide range of industry sectors that qualify but if you're not sure if your business qualifies, you can take our simple three step test:
Which Industries Have Claimed?
Research and development isn't all about test tubes and laboratories. In fact, many of the routine product and process improvements companies strive for every day could qualify for tax credits, whatever sector they're in.
Keep in mind: that list really is just the tip of the R&D iceberg.
Companies of any size can claim tax credits for research and development, although small and medium-sized (SMEs) tend to get a much better deal than those on the large company tax relief scheme. Far too many businesses are letting their inventiveness go to waste and missing out on the thousands of pounds they could claim back from HMRC. That's a great shame, and we're determined to make sure that true innovation is always rewarded.
How Do I Find Out More?
RIFT R&D has everything you need to help you with your claim, from checking if you qualify to dealing with HMRC. We've got the expertise to understand the work you're doing, and the tax know-how to translate it into major cash injections for your business. We're the champions of business innovators, so call us today on 01233 653008 or contact us now and see how we can help you.
As always, we had an amazing time at the KEiBA award show this year. Kent is a terrific place to build a business, and it's always inspiring to see so many innovative firms making their marks. There's...