If you've heard of it but have never claimed any then read on...
R&D tax relief started in 2000 as a way to incentivise companies to invest in R&D increasing wealth and innovation in the economy. History lesson over. Are you a SME? You can claim R&D tax relief against your taxable profits. To put it in simple terms for every £1 you spend the government will give you 130% or £2.30 in tax relief.
If you're a loss-making company you can claim a tax credit, worth up to 14.5% of the surrenderable loss.
So, in conclusion, your small company may be eligible for R&D tax relief. To find out if you are and get help with your claim to the HMRC why not give me a call today?
Imagine being able to take the power of the sun or the wind and to convert it into heat energy through a process where NO carbon emissions are produced.
