If your company is taking a risk by innovating, improving, or developing a process, product, or service, then it will likely qualify for research & development tax credits.

What is R&D?

R&D actually stands for research and development. It is a matter in which you will take some idea and transform it into a full-fledged product or process. Creating, designing, researching, and testing are all components of the R&D process.

What are R&D Tax Credits?

R&D tax credits are an incentive offered by the government to businesses so they can develop innovation throughout a variety of industries. This is a great opportunity for companies to reduce their corporation tax bill or obtain a refund from HMRC depending on the number of working hours that your business has spent on R&D.

This scheme allows SME’s to claim up to 33% of the costs related to R&D. In other words, it is 33p payout for every £1 spent on any eligible R&D activities.

If you think you might qualify please get in touch.

Phone - 0161 9600 960

Address - Burnden House, Viking Street, Bolton, BL32RR

Email - enquries@danieljamestax.co.uk