R&D Tax Credits

R&D Tax Credits form a key part of Government strategy to boost innovation in business. It's a Corporation Tax relief that may reduce your company or organisation’s tax bill.

The scope of qualifying is activity broader than most think. Numerous activities undertaken to develop & grow your business will qualify, irrespective of the industry you are in.

Eligibility test

If you are a UK Limited Company and can answer “Yes” to any of the following questions, there’s a good chance we’ll be able to help you land some R&D tax credits.

1

New Product Development

Do you develop new or regularly change the way you make your products?

2

Product Improvement

Do you undertake activities that seek to improve products, materials, processes, services or devices through technological or scientific changes?

3

Technical Challenges

Have you faced technical product or process challenges that you have tried to resolve?

4

Software

Do you develop software, IT solutions or products?

5

Manufacturing & Engineering

Have you sought to develop or improve your manufacturing or engineering processes?

6

Efficiency

Have you improved or sought to improve manufacturing, process or service efficiency or costs?

7

Uncertainty

When starting a project have you ever been unsure of how to go about it or uncertain of success?

8

Testing & Prototypes

Do you undertake sampling, testing, trials or develop protoypes or tools?

9

Services

Do you undertake product or process development or improvement services at your own risk?

Ready to claim?

If you answered "yes" to any of the above questions you're probably entitled to funding, so get in touch to find out just how much you may be due. If you're unsure if you are entitled, feel free to get in touch anyway for an expert opinion.

contact us now

How do I make a claim?

Leave it to us. We’ll do all the hard work for you.

90% of businesses that are eligible for R&D Tax Credits don’t claim and going it alone can be a daunting prospect. The other challenge for any business is maximizing the full potential of their claim and thousands of pounds can remain unclaimed if you are not sure of every opportunity that R&D tax credit claims offer.

You are much better placed to engage the services of an expert team like the one at GGTC to ensure your claim is processed efficiently and speedily whilst making sure you maximize your full claim entitlement.

GGTC’s proven track record in achieving a 100% success rate for those eligible has meant to date we have over £100 million in claims for clients throughout the UK. Our success comes from knowing the pitfalls, the changes to legislation and are engaged daily with those responsible for processing your claim.

The great part about our service is that we do all the work and if your claim is unsuccessful you will not have to pay a penny.

Ready to claim?

Contact us to see if we can help you claim your tax credits. If you're unsure whether or not you're eligible, feel free to contact us anyway because you might still qualify. Remember, if you don't qualify for R&D tax credits, you won't owe us a penny.

contact us now

R&D Tax Credit Schemes

These are the schemes available for you to claim R&D Tax Credits!

GGTC’s specialist team provide more than a helping hand to ensure our clients receive their full entitlement under the scheme. For companies already claiming we often find that they are not claiming their full £ entitlement as successful claims are based on their technological and scientific merits, which cannot be fully handled by tax personnel alone.

SME R&D Tax Credit Scheme

SME R&D Tax Credit Scheme

The R&D tax credit scheme is a key part of the Governments strategy to boost innovation in business. Credits reduce the real cost of investment, improving products and processes.

Over £2.45bn was given back to just over 22,445 UK companies during 2014-2015. However, HMRC believes there are potentially over 150,000 scheme eligible companies.

Large Company RDEC Scheme

Large Company RDEC Scheme

The New Large Company 10% Research & Development Expenditure Credit (RDEC) will benefit all large companies carrying out qualifying R&D.

The new scheme now directly benefits a company’s financial accounts at Earnings before Interest and Tax (EBIT) level. It also opens up a valuable source of income to large companies who under the original scheme could only claim relief for R&D in the form of a credit against taxable profits.

Additional funding schemes available to companies

In addition to benefitting from the R&D tax credit scheme, we often find that a client will also qualify for one or both of the following government backed funding schemes which go hand in hand with the R&D tax credit scheme, significantly increasing a company’s potential overall funding opportunity.

The Patent Box Scheme

The Patent Box Scheme

The Patent Box Scheme aims to create a competitive tax environment for companies to develop and exploit patents in the UK, supporting business investment and growth.

Corporation Tax on profits from the sale of patented products is reduced to 10%.

The scheme gives companies the potential to more than halve their corporation tax bill when scheme benefits are fully phased in.

Even if the patented element of a product or process is minor you should still be able to claim. All companies who have previously considered applying for a patent or develop innovative products should therefore consider the potential benefits of patenting for both the competitive and financial benefits that are now available.

Capital Allowances

Capital Allowances

90% of commercial property owners have not fully used their capital allowance position to their advantage.

If you have made any improvements or additions to a commercial property, purchased or as a tenant, there may be allowances available to you that are far beyond the reach of the claims made by your accountant alone.

Capital Allowance claims, made in full, using the expertise of a specialist understanding all the nuances of the legislation can be a valuable form of tax relief, delivering immediate benefits to the bottom line of a business.

Which Scheme?

Contact us for a complimentary, no-obligation assessment to know how much you could benefit by from any of the above schemes. If you're unsure whether or not you're eligible, feel free to contact us anyway because you might still qualify. Remember, if you don't qualify for any of the schemes, you won't owe us a penny for this specialist assessment.

contact us now

R&D tax credit scheme FAQs

1

How much can my company claim?

There is no lower or upper limit on what your company can claim. As a guide, it is typical that a company will get a tax credit of around 26% of costs incurred in qualifying activities, or up to 33% for a loss-making company receiving a cash-back payment

2

I'm not sure if I'm eligible, what should I do?

Please contact us by email or telephone as soon as possible so we can identify qualifying activities. Please don’t make an assumption that you don’t qualify – around 95% of companies that we visit thought this, but after our appraisal, they did qualify!

3

What are your fees for helping me?

Our initial conversations and visit to confirm scheme eligibility and potential claim benefit are totally free of charge and without obligation. Our fee structure is designed on a no-win, no-fee basis. Our typical rate is a percentage of the successful tax credit awarded or cash payment made. With our history of uplifting claim values by up to 200%, you, the customer, will always end up in a better net position.

4

How long will it take for me to claim?

If you really want to get things moving to get cash back into the business and engage us straight away, we require 4 weeks to complete our analysis, compile our reports and submit your claim to HMRC - however some claims have been processed a lot sooner. Typically, HMRC will issue the tax credit or cash payment thereafter.

5

Why can't I claim tax credits by myself?

You can claim yourself. However, this is a complex area of tax relief that requires specialist scheme knowledge and with rules that are frequently changing. There is a reported £16bn unclaimed or under-claimed in this area, primarily as a result of companies not knowing about the scheme or putting in very conservative claims. GGTC will assign a professional scheme & industry trained technologist to optimise and produce your claim submission to HMRC. This ensures we capture all qualifying claim potential. Even when taking our fee into account, you will be in a better net position. Should HMRC have any queries on your submitted claim, GGTC handle this at no extra charge, something most other providers will charge for. GGTC manage the whole claim process for you – hassle free for you and maximum cash back to the business.

Require further assistance?

Please feel free to contact us if you have anymore questions. We'll be happy to assist you, with no obligation on your part.

contact us now

Case Studies

Over £250k

Scheme used:
R&D Tax Credits

Sector:
Manufacturing

We were initially dubious about being able to claim for internal process improvement, but GGTC’s knowledge and expertise reassured us and the results are fantastic....

Andrea Rodney, Director

Hone All Precision Ltd
Over £250k

Scheme used:
R&D Tax Credits

Sector:
Business Management Systems

Our long term relationship with GGTC, together with their advice and support on new innovation programmes enabled us to plan for the R&D credit in our investment deci...

Gareth Powell, Managing Director

Intelligent Business Systems Ltd
WordPress Video Lightbox