Are you able to obtain additional tax relief or a cash back payment for research and development expenditure?
R&D tax credits can take the form of cash back or a reduction in the company’s tax liability. If you are paying corporation tax, you will receive enhanced deduction for the R&D expenditure. If you are loss making and paying no corporation tax you will receive a cash payment based on the R&D expenditure incurred. Call The Profit Key now and we will ensure a specialist checks to see if your company has any potential to claim this valuable relief.
“The Profit Key identified a claim we had for R&D projects and they were successful in generating a significant five figure claim for us retrospectively for the past 2 years and for future years going forward. We cannot recommend them highly enough as a pro-active advisor who helps our business save money”.
Martin Spare | Finance Director | SRM Industries
Research and Development tax relief is the UK’s most generous corporation tax relief. Despite this, thousands of claims aren’t submitted by companies that qualify. Our specialist R&D advisors can assist you with your R&D tax relief claims.
Retrospective claims can be made for the past two accounting periods which can often result in a significant repayment of corporation tax, or if a company is loss making, a claim for R&D tax credits. Our specialist advisors and technical consultants make over 550 claims per year and have an unrivaled success rate.
The July 2015 budget made no alteration to R&D tax relief. The relief remains at its highest in the scheme’s 15 year history. The proposed reduction in corporation tax in 2017 also means that the RDEC scheme for large companies will become more valuable.