We’ve already seen that early VAT registration can get you some well earned cash back, but there are some other valuable potential credits to be considered, anything that regenerates cash into the system to form part of your working capital, one would be a fool to overlook!
For grants, we can collaborate with partners in the areas that you specifically wish to look at, but much more generally, we should always review the R&D tax credit scheme.
You haven’t got to be NASA, or a PhD scientist, anything that resolves or moves forward some fundamental uncertainty within any industry and it may attract these valuable tax credits.
The credit is currently 230% – that is, you attract corporation tax relief for something that cost £100 as if it cost £230.
If your company is loss making, there is a calculation to receive a cash payment instead.
There are several providers in the market place, often non-accountants, who’ll lock you in at 25% (of what is recovered), for 5 to 6 years.
We simply do the following :
- We partner with a specialist, Andrew Jupp, a Chartered Accountant with a PhD.
Ex top 4 Chartered Accountant, now independent, he has been writing these reports to HMRC for 15+ years.
His science background and tax status makes him the most reliable report writer we know.
- Andrew will call you for 10 minutes, he will then know if you can make a claim.
- If there is a claim, we meet with Andrew and you for an exploratory meeting – circa 45 minutes.
Andrew will interview you in a manner to populate the HMRC prescribed report format.
- Andrew drafts the report, we populate the numbers, you review.
- We file the report and offset your corporation tax / recover you a cash payment (if you are loss making).