Piloted in 2000, the UK R&D Tax Credit Scheme was commissioned to support businesses by incentivising investment in innovation through research and development.
R&D is defined as “a new or improved process, material, device, product or service”
This could mean new or developed machinery, gadgets, materials, formulas, recipes, technology, hardware etc.
In profit making companies, successful claimants could have their corporation tax reduced down to 0
In loss making companies, successful claimants receive a cash payment of up to 33% of R&D expenditure
The average value for a successful claim is £53,875
Successful claims can be resolved in as little as 6-8 weeks
It is an incredible weapon for businesses to increase their liquidity except many companies are unaware of this opportunity and miss out!
According to HMRC, less than 15% of £36.5bn R&D expenditure in 2018-19 was claimed back in 2020.
ATA offer a FREE consultation to check whether your business is eligible for an R&D Tax Credit
Full information can be found on GOV.UK - https://www.gov.uk/guidance/corporation-tax-research-and-development-rd-relief
To find out more information about our consultation
Please email: email@example.com
Or call us on: 01442 264 411