Are you aware that if your company has people and costs associated with projects and activities aimed at advancing what you do or improving products, services or the efficiency of your organisation then you could be eligible for R&D tax credits. It’s also important to recognise that R&D is not restricted to sophisticated programmes and projects involving specialist departments and consultants. The Government’s R&D tax relief scheme is available to any company that spends money trying to introduce improvements through technical advances using qualified staff and appropriate project controls.
So far around 10,000 SMEs and over 2,500 large companies are claiming well over £1bn tax relief from HMRC. But … significantly … many thousands more, who could … aren’t!
That is where Asset Finance Solutions can help you with tax relief
As part of our finance solutions strategy we have partnered up with Jumpstart, who is widely recognised as the leading specialist in helping companies reclaim their eligible R&D tax relief.
Identifying if you qualify to claim and then working out how much you should be eligible to get back can be a complicated process that is not helped by the HMRC somewhat confusing terminology. Fortunately Jumpstart has established a team of fifteen ‘Technology Experts’ who can help you decide if you have a claim and can then assist you in making that claim – which, incidentally, can go back three years retrospectively.
The precise amount of tax relief you can claim will depend on the size of your company, its tax rate and the suitability of activities. Smaller companies, for instance, can claim a higher rate and can qualify for extra financial support if they are loss making.
We can’t stress enough that if you do qualify then you should claim. And if you do make a claim that you ensure you get the maximum amount of tax relief available to you. To do this though it is vital that you work with an expert partnership such as Asset Finance Solutions and Jumpstart. Time and time again we have seen that relying on an accountant to process your claim isn’t necessarily the best decision because accountants (who of course specialise in accounts) are shown to only claim approximately 10% of the potential eligible relief.
So don’t compromise your claim. The key is to identify as much eligible expenditure as you can. The more you identify the greater relief you’ll receive from HMRC. Asset Finance Solutions and Jumpstart help you do exactly that.
If you think you may be eligible for R&D tax relief then without question the best course of action is to speak to Asset Finance Solutions and arrange a FREE R&D TAX CREDIT CONSULTATION. It won’t cost you anything and if ultimately you find that you don’t qualify then you won’t owe anyone a penny.
As they say … if you don’t ask you don’t get!