What are R&D Tax Credits?
The R&D Tax Credit scheme is a UK Government Tax Relief incentive designed to reward companies investing in innovation. R&D Tax Credits can be an incredibly valuable source of funding for many businesses, being available as a cash payment from HMRC.
Who is eligible to claim R&D Tax Credits?
If your company incurs costs to develop or improve products, processes or services in any sector, you could be entitled to claim.
How much can be claimed?
You can claim up to 33% of R&D spend, and you may be surprised at what is classed as R&D.
R&D Tax Relief is one of the biggest funding sources for innovative UK companies, however many companies are underclaiming or not claiming at all!
The average annual claim for an SME in the UK is over £61,000 (HMRC, 2017).
Any sectors qualifies!
At Inventya we have worked with most types of businesses: Biotech, Pharma & Medical, Engineering, Energy, Financial Services, Food & Drink, Software and Electronics. We have undertaken numerous claims across a wide range of sectors and have obtained a thorough understanding of the operations of varying businesses. After the initial discussion we are able to tailor the most efficient and least disruptive method to both formulate and submit the claim.
At Inventya we work solely with technology businesses, helping them to develop and commercialise their products. All of our consultants all have a technical background. In addition our financial consultants are qualified ACCA professionals and have vast cross-sector experience in formulating and submitting successful claims for R&D tax relief. We understand what HMRC are looking for to enable your claim to meet the requirements of the legislation and do not waste your or our time submitting claims which may jeopardise your company’s relationship with HMRC.
We work on a contingent fee structure, meaning no fee is payable until your company receives the benefit of the claim from HMRC. This provides you with the reassurance that we only undertake to submit claims we consider will be successful.
To date our consultants have obtained 100% success. We have assisted several detailed R&D tax enquiries and investigations from HMRC. However, none of these claims have been rejected which has further enhanced our relationship with HMRC.