Does Your Company Qualify For R&D tax relief?
When most people hear of R&D, they think of large multinationals employing scientists in white coats. However, the majority of the claimants taking advantage of the program are small to medium sized enterprises from all sectors of the economy, and:
- Most claims we see are for Development rather than Research
- Qualifying projects attempt to develop a new or improve an existing material, device, product, or process
- The work performed seeks a technological advance by resolving areas of technological uncertainty
- If your engineers or technologists encounter failures in the course of their work, or it takes longer than projected this may point to projects that potentially qualify for R&D tax relief
- Design work and feasibility studies may qualify to the extent that the study is related to the development of a technological advancement
- Lack of documentation may not be an obstacle
It is the set of obstacles that you encounter as you strive to increase product quality, production levels, advance the functionality of products, develop new technologies etc. ,in the pursuit of business goals, that determine eligibility, not the business goal itself.
Contact us today to see how we can help you determine if you can benefit from this valuable R&D tax relief scheme >
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