Most companies do not realise that they could claim tax relief for up to a third of their R&D spend.
Future Business Centre Cambridge tenant Watermill Accounting has a range of experience working with both startups and established ventures.
Founder and MD Deepti Agarwal ACA, is on a mission to help innovative businesses save, and raise awareness of Research and Development tax relief, which could help your business claim back thousands of pounds.
Here Deepti takes some time to answer FAQ’s for Research and Development Tax Relief.
How does it work?
Any profit-making company could reduce its tax liability by claiming R&D tax relief.
How much could be claimed?
Up to a third of your Research and Development spend.
What if the company has made a loss?
Even a loss-making company could claim R&D tax credit as cashback.
We are a Startup and haven’t started selling yet. Could we still claim R&D tax relief on our R&D expenses?
Yes, as long as you are a limited company.
Our Research wasn’t successful could we still claim R&D?
Who could claim it?
Any company that is conducting R&D activities.
What are R&D activities?
Researching or developing a new product or improving the functionality of an existing product or service.
Want to know more? Contact Watermill Accounting.
Watermill Accounting is a leading Cambridge-based accountancy firm that has helped companies claim thousands of pounds of R&D tax relief in cash. To learn more visit their website here.
Event: Introduction to Online Accounting (Xero, Kashflow & Capium) 7 December 2016, Allia Future Business Centre, Cambridge. Register now.
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