Research & Development Tax Credit Strategy (R&D)
How would your business spend an unexpected tax refund from HMRC?
Many businesses are completely unaware that they are eligible to claim refunds and tax credits against their corporation tax for R&D activity and projects in the course of the work that they do. If you are a business or company that:
- Is involved in designing and/or delivering challenging or complex technical projects or scientific projects
- Invests money into innovation by developing or manufacturing new products
- Creates bespoke technological services, processes, software, or enhances existing ones
- Carries out research, testing, trialing and assessment to take a product or service to market in all industries
- Is involved in reducing the carbon footprint with your products or projects
...and, in doing so, have had to overcome technological or scientific uncertainties or challenges along the way, then you are almost certainly engaging in Research and Development activity. A project does not always need to have been successful to qualify.
This R&D activity can be translated into corporation tax refunds via HMRC (going back two financial years), a deduction from your next corporation tax bill, or a tax credit/refund if there are company losses as a result of R&D investment.
Receiving R&D Tax credits could make your growth plans a reality by reinvesting the funds, often tens of thousands of pounds, back into your business. This cash injection is an exciting step forward for many businesses – how would you spend yours?
How Coaching Dynamics can help your business benefit from R&D Tax Credits
Tina Dulieu, of Coaching Dynamics, is an experienced and extremely proficient R&D strategist who partners with fully qualified, accredited and highly reputable Accountants that submit the R&D tax claims to HMRC on the clients’ behalf according to the eligible criteria.
Tina’s role is to identify and document quantifiable Research & Development projects within businesses. Through many years of working with all kinds of businesses and industries, Tina is extremely well-placed to recognise eligible R&D activities, often when clients are not aware themselves, expertly creating the necessary documentation and evidence to validate claims as required by HMRC.
No fees are payable for consultations, meetings or work done until the R&D tax claim is successfully credited by HMRC at which time the agreed commission is then payable.
Just some of the industries in which Tina Dulieu has helped companies realise successful claims:
Architectural, Batteries, Construction & Related Industries, Digital, HVAC, Industrial, Lighting, Manufacturing, Pharmaceutical, Software, Transport… and many others.
Why does the Government actively encourage businesses to claim R&D Tax Credits?
In a document released by HMRC in 2019, they stated:
“R&D drives productivity and growth in the economy and is vital for the success of UK companies competing on the global stage. Evidence suggests that the benefits of R&D to society are 3-4 times higher than the private benefits realised by an individual company. There is a strong case for supporting R&D though the tax system to incentivise greater investment by companies to realise these wider societal benefits. "
Further information on R&D tax credits can be found on the Government website.
Why wouldn’t you? There’s absolutely no cost to finding out if your business is eligible.
Every company that is proactively pursuing growth engages in innovation of some kind. The Government are actively encouraging companies to engage in innovation and take advantage of R&D Tax Credits for reinvestment. There is every chance that your company is engaging in R&D too!
Contact Tina today to discover how your business can benefit from R&D Tax Credits.
“Tina helped me build a successful claim that delivered tens of thousands of pounds back into my business. She discovered many R&D activities that I simply did not realise were eligible including my own time spent on developing a new product. Thanks to Tina, I now have the money to invest in growing my business further.”
MD, Manufacturing Company