Opinion

By Tom,

Is your business eligible for an R&D tax rebate?

If you run an SME, you’ve probably heard of R&D (Research and Development). If not, let us briefly explain… It’s a government scheme created to encourage businesses to invest in innovative research and development. The government will reimburse up to a third of your R&D costs if they determine that what you are doing is ‘novel’. You can even retrospectively claim R&D tax relief, going back as far as two accounting periods.

For many of the businesses that we’ve helped submit R&D tax claims, this has meant a substantial cash injection. It’s really a no-brainer for business owners; if we find there’s nothing worth attempting to claim R&D on or our claim is rejected by the Revenue (this has never happened), we won’t charge you a penny. However, if we are able to make a claim, our fee is a small percentage of the total sum of the claim. So, as far as you’re concerned, it’s essentially free money. In our opinion, SMEs pay more than their fair share of tax. As such, nothing makes us happier than helping small businesses claw back some of that tax via a nice fat R&D tax rebate!

If you’re doubtful that your business is doing anything ‘novel’, you may well be surprised. We’ve helped all manner of businesses claim successfully. We’d recommend giving us a call and letting us be the judge of whether or not your business is doing anything that could be considered research and development. You’ve basically got nothing to lose and everything to gain. And we love talking to people about their businesses. If you’d like to arrange a call with one of our experienced R&D consultants, give us a ring, leave a comment below, fill out the contact form on our Contact Us page, or send an email to hello@optimalcompliance.com… We look forward to hearing from you!

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