R&D Tax Credits

You may have heard the term around but unfamiliar with it.  Ask yourself this, does your business do any of the following?

• Develop new products or enhance existing ones?
• Improve services?
• Develop new processes?
• All these come under the scope of innovation and are eligible for R&D (short for Research & Development) tax credits

You can make an R&D tax credit claim to reduce your Corporation Tax or even get cash back if you are loss making !

To be eligible, you must be a limited company in the UK, subject to corporation tax.

Costs that qualify for R&D Relief:

• Employee salaries, including Employer’s NI, pension contributions and bonuses
• Software
• Subcontractors
• Materials
• Light, heat and power used

You can even claim for the last two completed accounting periods!*
 
Claiming is easier than you might think, typically clients only spend a few hours of their time.

A simple three-step process for clients:

1.    Initial Consultation, together we identify qualifying projects
2.    Information gathering, collectively we find the costs to qualifying projects
3.    Let Chadwick’s take care of the rest.  We’ll write up the reports, submit the claim and even chase HMRC on your behalf.

Unlike many R&D consultants, we tailor a report for your business which demonstrates 100% compliance with HMRC.  This report is sent to HMRC along with your claim so if HMRC want more information, it’s all at their fingertips and you can rest easy that your claim is 100% compliant.  

We will never put in a claim that we do not believe fits the criteria, so you can rest assured you are in safe hands.