R&D Tax Credits for London business owners 

Whilst all business owners set goals, apply innovation and take risks, there are some who take it to a whole new level. If your company carries out research and development as a means of improving or developing products, services or software, you should be eligible to apply for R&D Tax Credits. 
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Why is R&D so important?  

The UK is a nation that thrives on creativity and clever thinking. R&D Tax Credits are designed by the government to incentivise this mindset, encouraging businesses to experiment as a means of making the world a better place. When a company invests time, money and effort into exploring the possibility of better solutions, it’s only fair that it’s rewarded for its hard work and dedication. 
There are multiple advantages made possible by research and development. The most obvious is that you’re enhancing product lines and services, but that’s not where the benefits end. When done well, R&D can achieve so much more: 
Solve problems faced by your target audience and customer base 
Optimise specific areas of operations, which can result in lower costs, streamlined production and logistics, and a reduced carbon footprint 
Establish a competitive edge by offering the very best version of a particular product 
Improve your company’s reputation and attract top talent 
Increase sales thanks to a superior offering 
Showcase your company’s dedication and focus when applying for finance and taking on investors 
Acquire patents for new products, ensuring sustainability within your marketplace 

How do I qualify for R&D Tax Credits in London?  

As long as you can prove that you carry out legitimate R&D, you should be fine. For instance, if you or your team started a project not knowing what the result would be or if the goal was even achievable, and the process led to a clearly defined outcome, you’re good to go. Even if the result wasn’t what you had hoped for, the point is that you carried out R&D to establish a clear picture. 
If you’re eligible, you can claim up to 33% of your research and development expenditure. Whether your project is relatively small or you spend huge amounts on R&D each year, claiming this tax relief is a very wise decision. The amount that HMRC decides you can claim will then be recovered by your business either as a cash payment or a reduction in Corporation Tax. 

The benefits of R&D Tax Credits for London businesses  

Open to all sectors and industries 
A wide range of costs are eligible 
Achieve more with a smaller annual budget 
Frees up more cashflow, which can be invested into additional R&D or other areas of your business 
There’s no minimum claim requirement 
You don’t even have to be turning a profit, you can still claim if your company is making a loss 

We're ready to help you apply for R&D Tax Credits today   

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