RD Tax Specialist UK
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Our company R&D Tax Specialists Leigh has assisted thousands throughout the UK in our 20+ years of experience
We have specialists based throughout the UK that can offer competitive prices and in August 2022 we are able to get a no-obligation quote over to you as quickly as possible
With our many years of experience, we have been able to create a very large client base all over the UK that would highly recommend us as a company. Don’t hesitate to get in touch with us today to speak to one of our Tax specialists!
Why Choose Us?
We are a team of professional chartered accountants based in the UK who have helped many businesses in the past process their research and development expenditure. If you are looking for an experienced team of accountants that are trained solely in tax credits and tax relief to help reduce your tax bill then look no further!
The majority of business owners/clients that we have worked with in the past have been unaware they are able to claim corporation tax relief (R&D tax, development tax credits).
Our firm of accountants is here to help you save as much money as you can as a business. Some services we offer are R&D tax credit, corporation tax, audit work, and technical reports if your business is looking for more information do not hesitate to get in touch we offer various types of tax services (we have helped various clients in the past with applying for innovation grants).
We offer a number of great R&D Tax Specialist services and are more than happy in assisting you on anything from price, to dimensions, to specification.
R&D tax relief criteria
The requirements for r&d tax credits are:
- The company must have expenditure for developing new products, training or new process or service.
- Only UK companies are able to claim this benefit (so if your business is registered in Dublin or in the EU you won’t be able to claim this).
- If your company is claiming tax credit claims for the first time you are able to claim R&D tax relief for the past 2 years of the accounting period.
- Your business must also be trying to advance a project or create something new that isn’t already in the market for you to use, this can’t be an existing product that’s already available. If you are interested in innovation grants get in touch today on the contact form on our website.
Benefits of Claiming R&D Tax Credit In Leigh
There are many benefits of claiming tax credit some of these include:
- In some cases, you are able to claim money back for staff costs (this does, however, depending on the circumstance).
- It will reduce your tax by the amount of credit.
- Accountants are also able to check to see if you are loss-making you will be able to exchange this for enhanced R&D expenditure
- Loss-making companies are able to claim 14.5% of R&D losses back
The whole process of R&D for an accountant is very easy, our team will run a technical report to see exactly what you can classify as research tax (this is seen as an investment by the government).
Then the assigned accountant on your case will then file for r&d tax while they are completing your end of year corporation tax, with our years of accountants’ years of experience and overall knowledge you will be able to save a lot of money.
For tax purposes, it is recommended that businesses use the same accountant for their R&D as well as your normal corporation tax at the end of the year the reason for this is it makes it easier for the accountants to submit.
Is the R&D Tax Relief scam?
No tax credits is not a scam. Tax relief is actually proactively pushed on the government website and also HMRC’s official website.
There have been claims in the past that random cold callers have tried to sign clients up for R&D tax so always make sure you do your due diligence on the accountant that is going to be doing your R&D work read up on existing clients, check to see if they have client testimonials or even any existing client reviews.
Always check to see where the registered office of the accountants you are dealing with is, if the registered office is outside the UK you should be careful, they might make claims to offer you a service or handful of services at cheaper costs but they may never achieve the best result for you or they might even get you in trouble with HMRC.
Always make sure to check out the website of the company that is dealing with your accounts. Check to see if they have any existing clients if they provide any other services and also what technology they use to file your accounts, some advanced accountancy technology/software are Quickbooks, Sage, and Xero.
Qualifying expenditure of development tax credits Leigh
Here is a list of eligible R&D tax credits qualifying expenditures:
- Staff costs – If you are training new staff this is classed as helping the business
- Software – If you have had to upgrade any software
- Hardware – If you have had to upgrade any computers or tools
- Materials – If you have had to test any materials in certain weather conditions
- Sub-Contracted work / externally provided workers – If you have had to outsource any work out to contribute toward research and development
- Bonuses – If you have given any of your staff a bonus
- Pension fund – If you contribute to any pension fund for your staff that are working on R&D
- Hiring fees – If you have had to pay a recruitment agency to find you staff that have been hired for R&D
- Website – If your business has developed a new website
- Payroll – Any members of staff that are working on a research and development project
What kind of company qualifies for R&D tax Leigh?
All registered UK companies qualify for the R&D tax credits (research and development) scheme that is working on an innovation project, or technology. However, most businesses don’t know about they are able to submit a tax relief claim.
How do I claim tax relief In Leigh?
You are able to make a tax relief claim up to 2 years of the end of the accounts period. Your Company Tax Return form (CT600) detailing all the expenditures. This is done on the official government website.
How much can you claim R&D?
R&D tax relief allows companies to:
Deduct 130% of any qualifying costs from their yearly profit. As well as a normal 100% deduction to make the total 230% deduction.
Business Requirements for tax credit relief?
You can claim research and development if you’re an SME with:
- Staff headcount 500 or less to be able to apply for R&D tax credits write off
- Either turnover of less than £100m or a balance sheet total under £86m
- If your business has any external investment business activities this may affect your SME status. You may need to include any figures of any connected companies.
Which work projects, qualify for corporation tax relief?
Any work that advances overall capability and knowledge in the field that your business is in. To qualify for r&d tax relief the business
At R&D Tax Specialist Leigh, we can assist you with the best specifications, costs and prices. Make sure you contact us today for a number of great R&D Tax Specialist services.
What Others Say About Our Services
We absolutely love the service provided. Their approach is really friendly but professional. We went out to five different companies and found R&D Tax Specialist to be value for money and their service was by far the best. Thank you for your awesome work!!Nicholas Murphy
We have used R&D Tax Specialist for many years as they are certainly the best in the UK. The attention to detail and professional setup is what makes this company our go-to company for all our work. I highly recommend the team for the immense work - we highly recommend!!Jordan Hart
For more information on our R&D Tax Specialist services, fill in the contact form below to receive a free quote today.
All Areas We Cover in the UK
Here is a list of all the counties we cover in the UK:
- City of Edinburgh
- Dumfries and Galloway
- Dundee City
- East Ayrshire
- East Dunbartonshire
- East Lothian
- East Renfrewshire
- East Riding of Yorkshire
- East Sussex
- Glasgow City
- Greater London
- Greater Manchester
- Merthyr Tydfil
- Neath Port Talbot
- North Lanarkshire
- North Yorkshire
- Rhondda Cynon Taf
- South Ayrshire
- Tyne And Wear
- Vale of Glamorgan
- West Lothian
- West Midlands
- West Sussex
- West Yorkshire
Our specialist teams work nationwide in the UK.
Enquire today as we can give you the best rates during August 2022.
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