What is R&D?
R&D tax relief was introduced by the government to support and incentivise innovation amongst small and medium sized UK businesses.
You could be claiming back up to £33 of every £100 spent, where the expenditure qualifies as Research & Development.
What does Research & Development mean?
Well, it can be found in any industry - it’s not just reserved for science and tech businesses - you just need to know what you are looking for, so it’s important not to rule yourself out.To be eligible, a business must be:
Making a considerable improvement to existing technology, this does not always mean it is ground-breaking or innovative work. If a business is working to make their product, services, or processes, faster, less expensive, or better in some way, then this may be eligible for R&D tax relief. Overcoming technological challenges, especially where the solution is not immediately obvious to a qualified professional.
Radish TaxWe’ve teamed up with a firm called Radish, who do things a little differently.
At Radish, their vision is to guide small business owners, like us, to secure the maximum cash in their business from government research, development and innovation incentives, empowering them to survive and thrive.
- They want to breakdown the misplaced belief that these reliefs are only available for science or technology businesses and get the cash back in the hands of the business owners.
- Find out more about Radish at www.radish.tax.
How do I make a claim?
The process is straightforward and only requires 1-hour of your time.
To get started, Radish will identify in a 15-minute qualification call whether you can make an R&D Tax Claim.
If you qualify, great.
We would then schedule a slightly more in-depth consultation with a Radish Consultant - around 45 minutes - to collect all the information needed to put the claim together for you.
A report is then produced.
We will make the submission to HMRC and finally the money hits your bank.
It’s that straightforward.
What are you waiting for?
Given the value this could bring back into your business, book a qualification call with our specialist partner Radish Tax, if only to rule it in, or out.