LimestoneGrey Launches Video to Provide Clear Overview of R&D Tax Credits
R&D Tax Credits Explained
The R&D tax credit process can sometimes seem a little daunting. Our new explainer video captures the relief’s key concepts, providing you with a clear overview of the process and what to expect if you use LimestoneGrey as your advisers.
So whether you are completely new to the relief or just need a refresher on the key principles, take two minutes to have a listen.
The Narrative
Do you know if your business is eligible for R&D tax credits?
R&D tax credits reward innovation and fuel growth across all business sectors, from engineering and construction to software and financial services and even agriculture, allowing companies to claim back up to 33pence for every 1pound spent on qualifying activities.
So how do you know if you qualify?
Have you been developing new products, processes or services (or modifying existing ones)?
Are you a limited company?
Yes?
Well, it is as simple as that. There is a good chance you are carrying out qualifying R&D. And so long as you have spent money on staff, materials, externally supplied workers such as agency staff, subcontractors or software, you are on your way to being eligible for the relief.
The benefits of R&D tax credits can equate to tens or even hundreds of thousands of pounds; tax free cash that can be used for any purpose.
No matter how small your business, if you have already received grant funding, if you have made a profit or a loss or even if the project wasn’t successful you can still make a valid claim.
Here at LimestoneGrey, we are dedicated to making the process of claiming back your research and development tax credits, as easy as possible. Our chartered tax advisers are equipped with years of experience and specialist knowledge and can prepare an R&D tax credit claim that uncovers all of your qualifying R&D activity and costs.
But wait! There is a time limit on claiming; you have 2 years from the end of your accounting period in which the R&D took place to make a claim.
Do you want to know if your business qualifies?
Call LimestoneGrey today.
