R&D Tax Relief

If your business acquires cost in developing software, products or services, R&D Tax Credits permits you to receive a reduction in corporation tax or sometimes a cash payment from HMRC. Gondal Accountancy will ensure that you take full advantage of your R&D Tax Credits.

Who is eligible for R&D Tax Credits?

If your company decides to take a risk in any sort of development, where you are unsure of whether the outcome is achievable, then you will most likely qualify for R&D Tax Credits. If you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods. The scope for R&D is huge-it can take place in any sector, so no matter what type of business you own, you may be eligible for R&D Tax Credits.

What costs qualify for R&D tax credits?

  • Staff cost,including salaries, employer’s NIC and pension contributions
  • Materials including heat, light and power that are used up during the R&D process
  • Some types of software
  • Payments to the of clinical trial subjects

Key Benefits of R&D Tax Credits?

All Business area

All businesses ares are welcome to apply for R&D Tax Credits.

Not repayable

The tax credits are an injection of cash for your business that you don’t have to repay.

Cash Injection

R&D Tax Credits provide an essential source funding for many small, medium and large enterprises.

Boost Innovation

R&D Tax Credits help encourage businesses to invest in R&D and innovation.

Economic Growth

Every £1 spent on public R&D delivers approximately £7 of net economic benefit to the UK.

No minimum claim

No Minimum spend requirements.All businesses can claim for any amount that you’ve spent on qualifying R&D projects.

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