R and D Tax Credits UK – Claim back your cash

03 January 2018

All around the United Kingdom, we learn of business with great ideas, who can't progress with them due to an absence of readily available capital.

Some businesses will naturally seek to protect business finance to fund any tasks and although that is one choice, tiny amounts organisations are aware that when their ongoing company advancement jobs are structured in properly, and supplying an overall advance in science and/or technology is accomplished, that they can recover considerable sums of money from the government.

Fortunately, in the United Kingdom, the main federal government prefers to reward business that innovate and who are constantly pressing the borders in order to gain an industrial advantage.

What does this mean?

Typically, for every £100,000 of certifying expenditure, a company can recover as much as £26,000 if they're in revenue, or £33,350 if they are giving up a loss. This means you can technically recuperate approximately a 3rd of the money invested in your minimal company.

Claim back money invested into your business

So how does this plan work?

The good news is this isn't a scam, it's based on a point of UK law dating back to the year 2000 that is used as a tool to encourage breakthroughs in industry.

The United Kingdom has a long and proud history of development and developing world-changing developments that go on to alter the world for the better; this is a custom the UK Federal government wishes to continue.

It is important that if you would like to learn how to increase your possible returns through this financially rewarding plan, that you talk with professional management specialists like those we utilize at Hamilton Wood & Business.

If you are a business who has a feeling you can enhance an existing system, process, item, service and/or technology and you're are overcoming a series of tests, or exactly what could be thought about clinical 'experiments' then there's a good chance you can recuperate a substantial amount.

Most importantly, you can claim back up too two years expense and you can even declare for jobs that failed.

Tax relief for business

Actually? What can I declare back for?

The chances are that if you're running a job that is dealing with unpredictable outcomes, then it is natural to conclude you would have invested your own time, and perhaps other team members' time whilst brainstorming the idea/project.

You can recover back up to 100% of people's incomes, NI Contributions, Bonuses, as well as energy bills that have been accumulated whilst the task has actually been running.

There are more products that can be declared for, however the essential thing is that to encourage service development, the UK Federal government is offering an extra improved relief of +130% for every pound of qualifying expenditure identified.

We're not talking small change here. You have to be a UK restricted company to certify however a typical claim deserves as much as £42,000 back in your pocket in just six weeks.

Claim back what you are owed

Visit Hamilton Wood & Company today or give us a call on 0161 791 1401

Please note: This article was written by an external author. Any opinions or advice shared by the author are their own and not indicative of any official advice or opinions of Thomson Local or its employees.

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Author -
Managing Director Hamilton Wood & Company

Simon Dodd is the Managing Director of Hamilton Wood & Company who are R&D Tax Credit Specialists based in Stockport, Greater Manchester. To learn more about how R&D Tax Credits can help your company, please visit their website.

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