Back in 2000 HMRC launched the R&D tax claims for businesses developing new products & services. (Breaking new ground)
R&D is an excellent way to enhance expenses to reduce the corporation tax due to HMRC. HMRC allow R&D expenditure to be enhanced by 130% allowing a total of 230% of the costs against profits.
If the business is starting or not yet ready to trade it may wish to use the R-DEC claim to receive a rebate from HMRC to put towards future costs. Currently this is 14.5% of the enhanced amount.
Which ever way your business may wish to proceed we are able to assist by providing the relevant calculations, documentation to go with the claim to HMRC and provide advice throughout the process.
Therefore is you feel there is potential for an R&D tax claim for you business get in touch for a free discussion about claiming R&D.
Richard at TG.