To encourage businesses to undertake innovative projects in science and technology, the UK government provides tax incentives for UK based companies. These credits have been around since 2000. Over 20,000 companies have claimed close to £3Bn in tax credits annually.
These credits can be claimed by a range of companies that seek to research or develop an advance in their field. The question is what if your R&D is unsuccessful? You can still claim the credits.
Bottom-line is that, you need to prove that your project:
There are 2 different types of R&D relief depending on the size of your company and whether the project has been subcontracted to you or not.
If your company carries out R&D for itself or other companies, it could qualify for Advance Assurance.
This means that for the first 3 years of claiming for R&D tax relief, HMRC will process the claim without further inquiries. Applying for Advance Assurance is voluntary and you can do this at any time before you make your first claim for R&D tax relief.
UK R&D Tax Credits Consulting:
The claim process can be daunting. EVAMAX can help you reduce the cost and time of your staff would spend preparing the claim and we would also maximize your claim as well as minimize the risk associated with it. Just leave it to the experts.
Our tenacious & driven team of highly qualified scientists, engineers, and tax experts takes care of the process from A to Z!
We understand the tax legislation and work on maximizing benefits for our clients.
For assistance in preparing your submission and to position your application for approval contact EVAMAX Group to help you with the process. You may also email us at email@example.com or call 1-877-711-7733.
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Leveraging national tax credits to boost #business efficiency. This four-part test can help you determine if your project qualifies for the SR&ED program. https://evamax.com/four-part-test-qualification-for-sred-program/
@CVCACanada urges government to lend additional support to start-up community. https://evamax.com/cvca-requests-additional-support-for-startups/ #business #finance #sred