RandD Tax Credits - It's Not Rocket Science, Should You Be Claiming?

RandD Tax Credits - you have probably heard about them but have done nothing about finding out if you qualify, or you may even have been put off by your accountant. Another common scenario is that you and your accountant agree that you should be claiming and you conspire to put a claim together that is vastly below the level at which you should be claiming.

The problem is that while R&D Tax Credit regulations are not rocket science, they do require knowledge of what costs qualify and what projects qualify and accountant's especially smaller practices simply don't have the time to keep on top of that level of detail, and the same probably applies to you as well.

If you don't claim or you under-claim it is a double loss, you lose out and the Government incentive designed to support innovation backfires.

RandD Tax Credits are money back. If you have a valid claim you can look back over the past two years and claim corporation tax already paid on qualifying expenditure. And the good news is that many more companies qualify than realise it.

You should seek qualified advice and the investigation process to determine if you do qualify should cost you nothing. Most R&D Tax Credit specialists will charge you a percentage of the value you get from making the claim so you have very little to lose.

Find out more here.