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R&D TAX SERVICES
R&D Tax Benefits are aimed at small to medium sized enterprises to claim a much-needed cash benefit to reduce some your business development costs.
Tax Rebate Solutions house a team of R&D Tax Experts with industrywide experience and knowledge. We help your business to receive a cash injection by initiating, processing and successfully claiming your rebate under R&D Tax Legislation.
With our experience and knowledge of manufacturing, engineering, technology and e-commerce sectors; built on our corporate tax background we can guide your business through all of the complicated tax schemes to ensure that you claim the maximum amount from HMRC.
R&D FOR SMES
Generally, SMEs would benefit from an average savings of 20-33 percent, and if a company were to spend £100,000 on qualifying R&D projects and make an R&D tax credit claim, they would be able to minimise their Corporation Tax (CT) by up to £33,000.
Available to both small and medium-sized enterprises (both profit and loss making).
Research and Development (R&D) reliefs support companies that work on innovative projects in science and technology. It can be claimed by a range of companies that seek to research or develop an advance in their field. It can even be claimed on unsuccessful projects.
R&D Tax Credits Calculation example:
SME MAKES £400,000 ANNUAL PROFIT
- Qualifying Expenditure £100,000 (already in accounts)
- Corporation Tax Before R&D Claim: £76,000
- £100,000 x 130% = £130,000 (uplift)
- £400,000 - £130,000 = £270,000 (revised profit)
- £270,000 x 19% = £51,300 (Corporation Tax)
- £76,000 - £51,300 = £24,700 (Corporation Tax Saving)
- £24,700 (approx 25% saving) from R&D Tax Credits
START YOUR CLAIM TODAY
IT'S A STRAIGHTFORWARD PROCESS
QUALIFYING CALL
A short confirmation chat will determine whether your company qualifies under HMRC criteria to submit a claim for R&D Tax Credit. Are you a limited company? Do you conduct R&D Projects? Do you make bespoke products? Have you spent money on software development? Are you involved in improving products, process efficiency etc?
THE INPUT
To start the process of writing the technical and financial report ready for submission we would work with key players in your business. This could include: Project Managers, Head of Finance, IT Managers, Directors or Managers responsible for new product development, your company Accountant etc.
TAX ANALYSIS
Our Accountants review your tax submissions for the last two accounting periods - Whether your business has made a profit or loss, your current tax liability to HMRC and advise you on how to maximise your claim for R&D Tax Benefit and the most favourable way to obtain it.
THE STRATEGY
We will finalise the relevant reports and amend the necessary tax forms. This process can take between 4-6 weeks depending on how quickly we can get the requested information. Once the claim is submitted to HMRC we will liaise with them for any follow ups or queries on your behalf. We only invoice you for our services once the claim has been approved by HMRC.
Tax Rebate received thanks to the hard work from Tax rebate solutions. The process was easy, all questions answered and professionally dealt with. Would recommend TAX REBATE SOLUTIONS for a stress free service.
Michael, Director
A Tax Rebate Solutions Client
R&D Tax Credit is aimed at small – medium sized enterprise - SME
DO I QUALIFY?
To find our if you a SME or a large company check the table below OR contact us to help you determine which scheme applies to your business.
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WE WORK FOR CLIENTS SMALL AND LARGE
Over the years we have worked with many businesss in the SME sector. Quite often we hear from businesses who do not believe that they can be eligible for R&D Tax rebate as they do not work in labs and white coats. But this is rarely the case as a quick initial qualification call can help us determine whether your business falls within HMRC criteria to successfully claim for R&D rebate. You business too could be owed a substantial sum.