Most companies do not know that they could claim tax relief of up to a third of their R&D spend
Less than 2% of eligible companies claim R&D tax reliefs. This is unfortunate as they could be getting a cash injection amounting to thousands of pounds. See our Frequently Asked Questions below:
How does it work?
Any profit-making company could reduce its tax liability by claiming R&D tax relief as detailed on the .gov.uk website.
What if the company has made a loss?
Even a loss-making company could claim R&D tax credit as cash back.
We are a startup and haven’t started selling yet. Could we still claim R&D tax relief on our R&D expenses?
Yes, if your company is a limited company.
Our research wasn’t successful could we still claim R&D?
How much could be claimed?
Up to a third of your R&D spend.
Who could claim it?
Any company that is conducting R&D activities.
What are R&D activities?
Researching or developing a new product or improving the functionality of an existing product or service. For more details contact us.
Watermill Accounting is a leading Cambridge-based accountancy firm that has helped companies claim thousands of pounds of R&D tax relief in cash for its clients.
Client case studies
” We are principally focused on the design of our path-breaking robots. Watermill Accounting, being our accountants identified our R&D activities and collated our R&D information, which then resulted in the successful refund claim. It helped our cash flow tremendously as we were still at the pre-revenue stage. We wouldn’t have got the cashback if Watermill had not taken the initiative.”
” We were very pleased to receive a tax refund from HMRC. We used the money to purchase measurement equipment, which allows us to attract new customers and undertake some ground-breaking research. The Watermill Accounting team provided a valuable contribution in obtaining R&D tax credit and dealing with HMRC.”
Come and talk to us: you should be able to claim R&D tax relief. As we work on no win, no fee basis, you have nothing to lose.
Watermill Accounting Limited,
Future Business Centre, Kings Hedges Road,
Cambridge, CB4 2HY