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R&D tax relief: back to basics – ‘why’

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Part five: your ‘why’ questions answer

In our final instalment of taking R&D tax credits back to basics, we answer some of your ‘why’ questions surrounding the world of R&D tax relief.

Why did the government put the R&D tax credits scheme in place?

  • They want to reduce the figure of 90% of businesses failing in the first five years
  • R&D tax credits have the power to heighten a business’s chances of survival and also enhance growth, which means more taxes and a boosted economy
  • The government’s return on investment (ROI) is around £2.50 for every £1 spent on the scheme

Why do we need Easy R&D when we can claim ourselves?

We do all the complexities that go into claiming so that you can get back winning business for your following R&D claim. We keep HMRC’s investigation to a minimum and will only involve you if absolutely necessary. We’ll only need a few hours of your time throughout the whole process: a small sacrifice for a significant return.

Why can’t our accountant claim our R&D tax relief?

If you’re simply telling your accountant what to claim, then it’s likely you’ll be significantly understating the R&D that you’ve undertaken. 

If you’ve already submitted a claim with an accountant, we can give you a free audit for the last two calendar years from the end of your company’s financial period.

Why Easy R&D?

Claiming R&D tax relief is a niche. We built our whole business around chartered tax accountants, skilled technical report writers and flawless claim processes to ensure your claims are successful — with maximum return. Averaging £54,000 per claim, we could even help you reduce your corporation tax bill to zero. 

You’ll get a personalised, dedicated consultant based close to your HQ. They’ll probe your company’s activities on a technical level — prompting you to reveal the true extent of your company’s R&D. 

Our fee is dependent on a successful claim. We have a 100% success record, meaning that every claim we’ve submitted has been paid. Should HMRC not pay out, then there will be no charge to you. The fee we charge covers an end-to-end service. We’re completely transparent, and there are no hidden costs. Even though you pay us a fee, you’ll end up with more money due to how we’ll maximise your claim.

And that’s a wrap on with the five Ws. We hope we’ve made the world of R&D tax credits clearer for you. If you have any questions that we haven’t answered, please check out our FAQs or get in touch

 

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R&D tax relief: back to basics – ‘where’

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Part four: your ‘where’ questions answered

We find work that qualifies for the government’s generous research and development (R&D) tax credits scheme in the most unlikely of places. No matter which industry you’re in, we’ll probe your day-to-day goings-on to reveal the true extent of your R&D activity. 

Claiming for R&D tax relief can be complex. It’s all about looking at what you do from a different view, which is where we come in to ensure no eligible costs go amiss or are underclaimed.  

In part four of taking R&D tax credits back to basics, we answer some of your common ‘where’ questions. 

Where does qualifying R&D take place?

The government’s criteria for claiming are purposefully broad. If your company is making improvements to existing products, processes or services — or creating new ones — you could be eligible. Costs you can claim back include:

  • staff costs (salaries, reimbursed expenses, National Insurance, pensions, contractors and agency staff)
  • software
  • utilities
  • consumables
  • prototypes
  • clinical trials

—    and more.

Where will my Easy R&D consultant be based?

Your dedicated, personal consultant will be based close to your HQ. They’ll ask all the right questions and gain a thorough understanding of your R&D company’s activities.

Where do we fit into the R&D claims process?

Our experienced consultants, qualified tax professionals, and skilled technical report writers will handle the entire claims process — keeping the time you need to put in to an absolute minimum.

R&D tax credits come in five Easy steps:

  • Step one: we’ll find out if you’re eligible for R&D tax credits through a free consultation with one of our expert consultants
  • Step two: we’ll introduce you to our easy-to-use Claim Portal
  • Step three: we’ll analyse your R&D data
  • Step four: it’s time to submit your claim
  • Step five: this is the good bit; you get paid

We’ll only need roughly 4–6 hours of your time so that you can get back to doing what you do best: winning more business that qualifies for the R&D tax credits scheme.

Averaging £54,000 per claim, you’ll get a service built around flawless processes to ensure your R&D claims are robust and successful — with maximum return.

If you don’t think the work you do counts as R&D, then you could be wrong.

If you do believe the work you do counts as R&D, then you could well be right.

Contact us today, and we’ll find out for sure.

 

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R&D tax relief: back to basics – ‘when’

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Part three: your ‘when’ questions answered

Here at Easy R&D, it’s our mission to make sure you’re not one of the businesses missing out on claiming back 33 pence of every £1 spent on R&D projects — even the unsuccessful ones.

That 33% can quickly rack up to thousands of pounds to put back into your business to spend however you choose.

We’ll keep the time and effort you put into claiming to an absolute minimum. We’ll do all the time-consuming work so that you can get back to doing what you do best.

In a bid to make the world of R&D tax relief clearer and put money straight back into your business, we’re taking things back to basics with who, what, when, where, and why.

In the third of a series of FAQs, we simplify the answers to some common ‘when’ questions.

When were R&D tax credits introduced?

The government incentive to encourage scientific and technological innovation has been around since the year 2000. The scheme allows companies investing time and effort into research and development (R&D) to receive tax credits. The government has pledged to run R&D tax credits until 2032.

When does R&D take place?

During the development of new products, processes, software or services — or changes to existing ones. Or as HMRC’s puts it:

“R&D for tax purposes takes place when a project seeks to achieve an advance in science or technology. The activities which directly contribute to achieving this advance in science or technology through the resolution of scientific or technological uncertainty are R&D”.

When can I claim R&D tax credits?

Any time, but we suggest claiming at the end of your accounting period so that we can look at everything. You can claim back up to two years before the end of your 12-month accounting period.

When can I expect to receive the benefit?

This is the good bit. HMRC aim to review a claim within 28 working days and pay within a few weeks later. You’ll receive your tax relief in the form of a reduced tax bill or lump sum. We’ve even helped clients reduce their corporation tax to zero.

Get in touch, and we’ll discover if you’re eligible for the government’s lucrative R&D tax relief scheme. 

 

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