RD Tax Specialist in EDINBURGH
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- Specialist Provider in City of Edinburgh
- 20+ Years Experience
- Voted Best Company in Edinburgh
We are R&D Tax Specialists in Edinburgh who have helped thousands throughout the UK.
With specialists based in Edinburgh City of Edinburgh we can offer competitive prices and in May 2022 are able to get costs to you very quickly.
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 for 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 in May 2022. Some services we offer are R&D tax credit, corporation tax, audit work, 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 apply for innovation grants).
We offer a number of great R&D Tax Specialist services in Edinburgh and are more than happy in assisting you on any information you need.
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 accounting period.
- Your business must also be trying to advance a project or create something new that isn’t already in the in 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 Edinburgh
The benefits of development tax relief in Edinburgh City of Edinburgh is that in some cases you are able to claim money back for staff costs (this does however depend on the circumstance).
The whole process of R&D for an accountant in Edinburgh is very easy, our team will run a technical report to see exactly what you can classify as research tax (this is seen as invest 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 your R&D as well your normal corporation tax at the end of the year the reason for this it makes it easier for the accountants to submit. 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. This is why our firm recommend to all of our clients to use same accountant service to make any claims.
Is the R&D Tax Relief a Scam?
No tax credits is not a scam. Tax relief is actually proactively pushed on the government website and also HMRC official website. There have been claims in the past that random cold callers have tried to sign clients up to 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 are in Edinburgh, 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 in City of Edinburgh if they provide any other services and also what technology they use to file your accounts, some advance accountancy technology/software are Quickbooks, Sage, Xero.
Qualifying expenditure of development tax credits
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
R&D Tax Credits in Edinburgh
What kind of company qualifies for R&D tax?
All registered UK companies qualify for R&D tax credits (research and development) scheme that is working on an innovation project, technology. However, most businesses in Edinburgh don’t know about they are able to submit a tax relief claim.
How do I claim tax relief?
You are able to make a tax relief claim in edinburgh up to 2 years of the end of the accounts period. Your Company Tax Return form (CT600) detailing all the expenditure. This is done on the official government website.
If you would like to receive even more information on R&D Tax Specialist services in Edinburgh, make sure you get in touch with us today!
How much can you claim R&D in City of Edinburgh?
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 in Edinburgh 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 balance sheet total under £86m
- If your business in EDINBURGH 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.
At R&D Tax Specialist, we can assist you on the best specifications, costs and prices. Make sure you contact us today for a number of great R&D Tax Specialist services in Edinburgh City of Edinburgh.
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 R&D Tax Specialist services in EDINBURGH, fill in the contact form below to receive a free quote today.
All Towns We Cover in City of Edinburgh
Here is a list of all the towns we cover in City of Edinburgh:
- RD Tax Specialist Almondhill
- RD Tax Specialist Alnwickhill
- RD Tax Specialist Baberton
- RD Tax Specialist Balerno
- RD Tax Specialist Bonaly
- RD Tax Specialist Bonnington
- RD Tax Specialist Broomhouse
- RD Tax Specialist Brunstane
- RD Tax Specialist Bughtlin
- RD Tax Specialist Burnwynd
- RD Tax Specialist Cammo
- RD Tax Specialist Canongate
- RD Tax Specialist Canonmills
- RD Tax Specialist Carrick Knowe
- RD Tax Specialist Clermiston
- RD Tax Specialist Colinton
- RD Tax Specialist Comiston
- RD Tax Specialist Corstorphine
- RD Tax Specialist Craigentinny
- RD Tax Specialist Craiglockhart
- RD Tax Specialist Cramond
- RD Tax Specialist Currie
- RD Tax Specialist Dalmeny
- RD Tax Specialist Davidson's Mains
- RD Tax Specialist Dreghorn
- RD Tax Specialist Drumbrae
- RD Tax Specialist Drylaw
- RD Tax Specialist Duddingston
- RD Tax Specialist Edinburgh
- RD Tax Specialist Fairmilehead
- RD Tax Specialist Gilmerton
- RD Tax Specialist Glenbrook
- RD Tax Specialist Gogar
- RD Tax Specialist Gorgie
- RD Tax Specialist Granton
- RD Tax Specialist Greenside
- RD Tax Specialist Hermiston
- RD Tax Specialist Ingliston
- RD Tax Specialist Inverleith
- RD Tax Specialist Juniper Green
- RD Tax Specialist Kaimes
- RD Tax Specialist Kingsknowe
- RD Tax Specialist Kirkliston
- RD Tax Specialist Leith
- RD Tax Specialist Lennie
- RD Tax Specialist Liberton
- RD Tax Specialist Lothianburn
- RD Tax Specialist Moredun
- RD Tax Specialist Morningside
- RD Tax Specialist Newcraighall
- RD Tax Specialist North Leith
- RD Tax Specialist Oxgangs
- RD Tax Specialist Piershill
- RD Tax Specialist Pilrig
- RD Tax Specialist Portobello
- RD Tax Specialist Queensferry
- RD Tax Specialist Ratho
- RD Tax Specialist Restalrig
- RD Tax Specialist Roseburn
- RD Tax Specialist Saughton
- RD Tax Specialist Silverknowes
- RD Tax Specialist Slateford
- RD Tax Specialist Swanston
- RD Tax Specialist Warriston
- RD Tax Specialist West Clifton
Our specialist team can help you in all the areas in City of Edinburgh and give you the best rates.
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