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?
Yes.
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
Autofina Ltd
” 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.”
DZP Technology Ltd
” 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.”
Goshawk Communications Ltd
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.
Let’s Talk
Watermill Accounting Limited,
Future Business Centre, Kings Hedges Road,
Cambridge, CB4 2HY
01223 781290
da@watermillaccounting.co.uk
Recent Comments