Can You Claim The Research And Development Tax Credit Incentive?

1. Can You Claim The Research And Development Tax Credit Incentive?

2. Now that the UK has officially left the European Union, companies and individuals need to demonstrate that we are a country that can take innovation to the next level. We have a long and brilliant track record for innovation in the past, from Sir Isaac Newton developing the first working reflecting telescope in 1668, to developing grapheme material in the early 21st century, we have been at the forefront of research and development. The list of innovations made in Britain is practically endless, and includes such diverse inventions as tanks, tarmac, jet engines, the internet, DNA profiling, and cash machines; all have all been developed in this country. The huge importance of funding

3. We have never had a lack of innovation, but we have sometimes had a lack of funding. Sadly, the two usually go hand in hand. If there aren’t enough funds available to a business or developer, then their development can rarely go ahead. Regardless of how good the idea is, without financial support, it usually fails to get off the ground. of. Entitled research and development Tax Credits, these are tax awards that are available to businesses that can demonstrate that they are engaged in real and meaningful research or are developing a product or service that will add demons The UK Government recognised this and did a little research and development of its own and created an innovation it can be proud

4. ratable value to the company, the UK economy or both. That requires a good deal of knowledge on research and development tax credits. criteria, but you need to explain how a project: • Searches for an advance in science and technology Naturally, these types of tax credits are highly specialized, and the claimant has to match very specific criteria in order to become eligible to receive them. Which projects are eligible? • Has had overcome uncertainty Research and development tax credits can be obtained for a science or technology project that meets certain • Has at least tried to overcome this uncertainty • Could not be easily worked out by a

5. professional who usually works in the field at another company or institution development tax credit experts such as Areande come in. They have staff who are both versed in this benefit type but also the somewhat complex process that needs to be followed to successfully apply for them. Expert, specialised advice is required The research and development advisors at Areande have trained extensively to get to understand this subject inside out. This enables them to be able to identify the Many eligible businesses or individuals simply don’t have the specialist knowledge required to claim the R&D tax credits. That’s where research and

6. types of innovation that can be eligible for research and development tax relief. That’s why Areande is able to quickly confirm whether or not a project that you or your company is working on is able to benefit from Business tax credits, or perhaps a research and development tax credit loan. Both are designed to help you develop your idea and push it towards a fully-fledged product or service that will benefit your company and the UK. gain an ‘unfair advantage’ If you have an innovation that you think is worthy of research and development tax credits, contact a specialist tax expert such as Areande [link to Areande R&D page] and make sure you’re not missing out. Act now before your competitors