We’d like to draw your attention to a Tax Relief, R&D Tax Relief.
R&D tax relief was introduced by the government to support and incentivise innovation amongst small and medium sized UK businesses.
Qualifying businesses can make an R&D Tax Relief claim up to 2 years AFTER the end of the accounting year in which you incurred the costs. This means you could make a claim for costs that were incurred up to 3 years ago.
If you make profits, you can claim an immediate refund of corporation tax. If you are loss making, HMRC will pay you a cash credit of 33% (from April 2023, this will be changing to up to 21.5%) of the amount you have spent.
Through asking the right questions, we’ll be able to determine for you in a quick 15-minute conversation whether you are eligible to make a claim.
Radish Tax, our specialist R&D partner
To make sure all our business owner clients understand whether their business activities qualify for R&D Tax Relief, we’ve partnered with R&D tax specialists Radish Tax.
There are many R&D tax providers in the market, but we partnered with Radish Tax by Diagnostax because they are easy to work with, the process for you is painless and they’ll deliver you the maximum cash back into your business.
Find out more about Radish Tax here.
If you’d like to find out if your businesses could be eligible for R&D Tax Relief, book your 15-minute call below, you’ve got nothing to lose.
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