R&D Tax Credits

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55% of eligible SMEs are still not claiming ​R&D tax credits that they are entitled to

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R&D tax credits reward and encourage scientific or technological advancements and improvements, by supporting companies that work on innovation projects, helping them reinvest in further innovation and growth.

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Are you eligible?
To qualify for an R&D Tax Credit claim (under the SME scheme) you need to be:

• An active limited company based in the UK
• Have less than 500 staff
• Turnover less than €100m  (or a balance sheet total under €86m)

And have you done any of the following?

• Have you carried out one-off projects?
• Do you do bespoke work for clients?
• Have you engaged in trial and error?
• Do you try different methods, material samples, etc?
• Have you used subcontractors?
• Have you automated something?
• Have you developed new materials?
• Have you created new software?

If the answer is yes to any of these, then you may be eligible for R&D tax credits. Contact Kate to find out more on kate@beaconaccountancy.com

Kate Baines, our owner and director is also a co-owner and director at Quantum R&D Tax Ltd.
In 2018 she partnered with Mike Newnham an Innovation Consultant to pool their skills.  Mike is responsible for the technical reporting needed to submit a successful R&D claim to HMRC and Kate is responsible for the finance reporting.

Quantum R&D Tax also partners with other accountants to offer R&D tax claims to their client and offers an introducer fee for referals.

www.quantumtax.co.uk

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