Research and development tax credits

Double tax relief is here….If your business comes up with bright ideas that make a difference to science and technology, you want to make the most of your research and development.

Businesses whose work advances science and technology – even if an advance is a modest one – are able to claim generous tax credits that can make a real difference to their financial health.

Small and medium-sized enterprises that are spending on research and development (R&D) are eligible for credits worth 200% of qualifying costs when calculating profits for corporation tax.  You can spend as little as £10,000 and then deduct £20,000 against your profits. So it makes sense to work with tax experts to put together the strongest case.

At George Hay, we will go further than explaining the complex rules of R&D tax credits in language you can understand and preparing your claim to help give you the greatest chance of success.

We can also advise you on issues like improving your record keeping, so that you can keep track of all the activities involved in the R&D process, and the costs, so that all eligible expenditure is claimed for.

As we make sure we understand our clients’ businesses, we will not just look at your R&D in isolation. We will build your R&D into your business planning so that you can use tax credit benefits as part of an ongoing strategy to grow your business and keep moving forward.

For more information on our R&D services, please contact us.

Primary Contacts

Carol George

Carol George

Taxation & Probate

Sarah Dixon

Taxation
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