Make the most of R&D tax credits
If you are undertaking R&D, you could be eligible to claim tax credits. R&D tax credits are designed to boost and reward innovation and were introduced by HMRC in 2000 to encourage companies in the UK to undertake more projects that can advance knowledge in science and technology.
Between 2000 and 2015, over 140,000 claims have been made and almost £14bn in tax relief claimed.
However, thousands of businesses seem to be missing out because of an apparent lack of awareness, fears of a catch, difficulty in applying or even under-estimating what they could potentially claim. In order to address these issues, TBAT has created a useful tool: theR&D Tax Credit Calculator.
By providing just five figures, you can becomemore informed about what you’re entitled to.Claims can be made for the current tax year and the two previous financial years.
In addition, TBAT has recently compiled all its knowledge, facts, figures and tips into one easy-to-read document to provide you with all the information needed to start your R&D tax credits journey. To download this document click here.
Get in touch and see how TBAT can help maximise your return.
It’s free and impartial and you have nothing to lose.