This relatively unknown tax relief can prove valuable for many businesses.
Research and Development (R&D) tax relief was introduced by the Government in 2000 and was launched with the purpose of encouraging and rewarding creativity and innovation among Limited companies in the UK.
R&D is one of the biggest tax reliefs available to SMEs and even loss-making companies may qualify. Claims can be made retrospectively for any R&D activity carried out in the last two years. Surprisingly, an alarming statistic released by the Government suggests that only 5% of eligible small businesses less than three years old are claiming the R&D tax relief they are entitled to.
This may be down to several factors including a lack of awareness about the scheme or not understanding what work qualifies for tax relief. Also, a perception that claiming is expensive and time consuming.
However, if you use the services of a reputable R&D tax specialist, they will do all the work in return for a commission for any successful claim. Our R&D Tax Experts will be able to let you know whether you qualify for some much needed tax relief.
To find your R&D Tax Expert you can either use our matching engine or complete the quick contact form and one of our experts will call you back. Please note that the initial consultation is free and without obligation.