Claim R&D tax credits to unlock business growth
As a forward-thinking business owner, you’re constantly pushing the boundaries, investing in research and development (R&D) to create groundbreaking products, services and processes. But did you know that your innovation efforts could also lead to substantial financial benefits?
Our team of R&D tax specialists can help you claim R&D tax credits to free up valuable capital to invest elsewhere, propelling you towards your growth goals. Here’s why you should choose us as your R&D tax specialists:
- Bespoke R&D tax credit services
- Specialists with backgrounds in 25+ industries
- Offices across the UK and Ireland
What are R&D tax credits?
Research and development (R&D) tax credits are government-backed incentives designed to reward businesses for investing in qualifying R&D activities. These credits aim to encourage innovation across various industries by reducing tax liabilities and providing financial incentives.
For businesses committed to innovation, R&D tax credits are a game-changer. Whether you’re a tech startup, a manufacturing company or a pharmaceutical giant, R&D tax credits offer a golden opportunity to recoup a significant portion of your R&D expenditures.
“R&D tax credits are a government incentive to reward companies for pushing boundaries. Primarily designed to offer a cash injection for businesses looking to grow and hire new staff, R&D tax credits are a valuable tool for scaling businesses. One common misconception is that you need to be a cutting-edge business in a scientific sector to qualify. But R&D tax credits are available for virtually any sector – you don’t need to be a quirky tech start-up!
“R&D tax credits can really transform your business. If you want to reach your potential and slash your tax bill, we can help you do it.”
John Goodier, R&D Director at XeinadinÂ
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What are the benefits of R&D tax credit claims?
01
Financial Boost
Imagine receiving a direct infusion of funds to reinvest in your business. R&D tax credits can significantly reduce your tax liability, freeing up capital that can be channelled back into research, product development and market expansion.
02
Competitive Edge
In today’s hypercompetitive market, staying ahead requires innovation. R&D tax relief gives businesses the financial edge needed to outpace rivals, bring to market cutting-edge solutions and capture new customer segments.
03
Enhanced Profitability
By maximising your eligible R&D expenditures, you’re not just reducing taxes – you’re also enhancing profitability. Claiming R&D tax credits helps your business maintain healthy margins while driving innovation.
04
Cash Flow Management
A steady cash flow is the lifeblood of any business. R&D tax credits can provide a predictable source of funds, enabling you to manage cash-flow fluctuations more effectively.
05
Encouraging Innovation
R&D tax credits not only reward past efforts but also incentivise future innovation. Knowing that your R&D investments will yield financial benefits can motivate your team to push boundaries even further.
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Book a free, no-obligation chat with our experts where we find out a bit more about your business, explain our services, and how we could work with you.
What qualifying activities do I need to do to claim business R&D tax credits?
Determining eligibility for R&D tax credits involves identifying activities that meet specific criteria. These activities typically include:
- Developing new products, processes, or technologies.
- Overcoming technical challenges through experimentation and testing.
- Improving existing products or processes through innovation.
Why choose Xeinadin as your R&D tax specialist?
- Unique approach: We don’t believe in a one-size-fits-all approach. Whether you need help with your R&D tax claim or require our accounting services, we tailor our solutions around your needs.
- Your success is our priority: We want all of our client’s businesses to succeed. That’s why we won’t charge you for our R&D tax specialists’ time unless you win your claim. It’s as simple as that.
- Wealth of experience: Our R&D tax specialists have worked with a huge variety of businesses in different industries. As we’ve seen it all before, we’ll use our extensive experience to provide you with helpful insights. We’ll be there to help point you in the right direction.
- Personal touch: Close working relationships are paramount to us. As your trusted advisors, we’re not afraid to ask the important questions. By getting under the skin of your business, we’ll be able to offer you the support and expertise you’ve been looking for.
- Trusted experts: We’ve helped over 60,000 clients foster innovation and drive business growth. Our stellar track record means we’re tried, tested and trusted.
R&D tax relief FAQs
Businesses engaged in the following activities may be eligible for R&D tax relief:
- Activities that involve the creation of new products, processes or technologies
- Activities that improve existing processes through technical advancements, experimentation and innovation
The eligibility criteria vary by jurisdiction and industry. To understand more about whether your business will be eligible for R&D tax credits or incentives, get in touch with our experts.
Expenses related to wages, materials, overheads and certain subcontractor costs associated with eligible R&D activities are considered qualifying expenses for R&D tax credits. These expenses contribute to the calculation of the credit amount.
R&D tax credits offer several benefits, including reducing your tax liability, enhancing cash flow and boosting profitability. These credits provide you with a competitive edge. This is because you can reinvest saved funds into further research, development and innovation projects.
While business R&D tax incentives were traditionally associated with technology and scientific industries, they have expanded to include various sectors such as manufacturing, pharmaceuticals, software development and more. The eligibility of your industry depends on the nature of your R&D activities.
The process of claiming R&D tax credits involves identifying eligible R&D activities, compiling supporting documentation, calculating qualifying expenses and submitting a claim to the relevant tax authorities. It’s advisable to work with experienced R&D tax specialistswho can guide you through this process to ensure accuracy and compliance.
Supporting documentation typically includes project plans, technical documents, test results, employee records and financial statements. These documents help substantiate your R&D activities and expenditures, ensuring a smooth claim process.
Yes, you can. R&D tax credits are not solely based on the success of your projects. Both successful and unsuccessful R&D endeavours that meet the qualifying criteria can be considered for credit claims.
Our seasoned accountants specialise in R&D tax credits and have an in-depth understanding of tax regulations. We offer end-to-end support, from assessing your eligibility and compiling documentation to preparing and submitting accurate claims, ensuring you maximise the benefits you deserve.
Absolutely. R&D tax credits offer a tangible way to offset the costs of innovation, making them an excellent avenue for businesses committed to research and development. By collaborating with our R&D tax specialists, you can navigate the complexities and secure the financial advantages that R&D tax credits provide.
What is your no claim, no fee commitment?
Your success is our priority. With our exclusive ‘no claim, no fee’ policy, you can rest assured that you only pay when you benefit. We stand by the value we provide and our fees are solely recovered as a reasonable percentage of the benefit that you receive once HMRC processes your claim.
We understand that your business is unique and that’s why we don’t lock you into rigid fixed-term agreements. Our goal is to help you access the benefits you deserve, on your terms.
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Get in touch to start your R&D tax claim with us
Whether you’ve claimed business R&D tax relief before or are exploring your options, we can help.
We’ll sit down with you to find out more about your business, your industry and any ambitious innovation plans you have. Once we’ve got a thorough understanding of your business model, we’ll work with you to devise an effective R&D tax relief plan to propel your business towards success.
To get the ball rolling, get in touch using the contact form below.
