Are we eligible for R&D tax credits is the question we are asked quite often, and the answer is often yes. Many are unaware of the potential benefits, and this is where BSO FINTAX can provide R&D tax help. If your company is spending or has spent by innovating, improving or developing a process, product or service, then it may result cash payment from HMRC (if you are loss making company) or reducing corporation tax bill. From 1 April 2015, the enhanced deduction was increased further to 230% of the qualifying R&D expenditure incurred.
How we can help
Our experience suggest that it’s rare to find a business where all of the R&D activity is transparent, and correlate to job roles and functions specific to R&D. We tend to find it’s more typical that R&D functions will be spread across numerous aspects of the organisation, with some individuals playing a far more active role. We often start by working closely with clients to identify the specific job roles within a business, and attributing a percentage of their time as qualifying R&D expenditure. If you want to find out whether your expenditure qualify for R&D, please contact us.