T. 01388 240140
E. info@genesistax.co.uk
T. 01388 240140
E. info@genesistax.co.uk

R&D Tax

R&D Tax

R&D Tax

Research and Development Tax Credits

Research and development tax relief is an extremely lucrative form of tax relief which enables companies to slash their Corporation Tax bills. It is designed to encourage companies to continuously improve products/processes in order to compete globally.

HMRC anticipate close to £5bn in R&D tax credits will be claimed for in 2017-18, corresponding to £31.3bn of R&D expenditure. In the North East the number of R&D claims processed are the lowest level of all of England with roughly £510 million saved by companies.

Research and Development Tax Credits

Research and development tax relief is an extremely lucrative form of tax relief which enables companies to slash their Corporation Tax bills. It is designed to encourage companies to continuously improve products/processes in order to compete globally.

HMRC anticipate close to £5bn in R&D tax credits will be claimed for in 2017-18, corresponding to £31.3bn of R&D expenditure. In the North East the number of R&D claims processed are the lowest level of all of England with roughly £510 million saved by companies.

There are two schemes available to businesses:

1. SME Scheme
2. Large Company Scheme (RDEC)

An SME for R&D purposes is defined as less than 500 employees and a total turnover of less than €100 million and a balance sheet total of less than €86 million.

Who is eligible?

Any limited companies can apply for R&D Tax relief. A company needs to have:

– Created a new product or process
– Changed or modified and existing product or process

If your company is continuously improving a product or process it is therefore likely that you will be able to claim. However out team of specialists can evaluate your business to ensure you are eligible.

 

How can we help?

As an R&D specialist with years of experience we can manage the whole process for you from start to finish. We will work with you closely to ensure you are kept fully informed on the application process.

We have a 100% success rate and will not submit a claim if we do not think it is eligible. We will be there to provide first class advice and are happy to liaise with your accountant to get the relevant information needed to make the process easier for you.

To start your claim please contact us today!

Testimonials

“Working with Genesis Tax has proven to be a painless, swift and profitable experience. With the help of Stuart and his team, they have worked with us on many successful R&D submissions allowing us to reinvest in our business. With another successful claim just approved we can’t thank them enough for their efforts and taking the pain away from the application process. This is money well spent and we will continue to use Stuart and his team for many years to come. Thank you!”

- Stephen Mallam at Onepoint Systems
“Just a quick note to offer my sincere thanks for your recent help. We were delighted with the work carried on our R&D Tax Claim. The whole process was managed perfectly and the end product was excellent. The communication throughout the process was excellent. No fuss, no angst, no gnashing of teeth and no worry for me, it was a great example of going above and beyond. There's absolutely no doubt I will be recommending you and Genesis Tax to more of my colleagues and business acquaintances.”

- Dave Roberts, Managing Director, X-Cel Broadcast
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