5 reasons why it’s not too late with R&D Tax Credit claims
28th January 2016
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It is never too late to make a New Year’s resolution, and hopefully this resolution won’t be one that you break, or one that you wish you hadn’t made.

  1. More and more companies in the UK are making claims for Research and Development Tax Relief, so if you are developing, significantly improving or changing the manufacturing process of: a product; a material; a device; software or a service, and you aren’t claiming you are putting yourself at a financial and competitive disadvantage.
  2. With many SME companies having a 31 March year-end, to coincide with the end of the company tax year and the personal tax year, you still have three months (until 31 March 2016) to investigate the potential of a claim for costs incurred between April 2014 and March 2014.
  3. Evidence has shown that companies making a first claim for Research and Development Tax relief have an average claim of around £50,000 worth of tax relief. Once a company has claimed, they become serial claimers and use the historical tax relief as a means to fund further research.
  4. If you are developing a product for which you are also applying for a patent, you will be able to register “patent box” tax relief. If you have been watching various press releases at the moment you will know that theUKpatent box is a relatively new piece of legislation which significantly reduces the tax on profits derived from the sale of patented items.
  5. Finally, we are offering a 20% reduction of our first year’s fee for R&D Tax Relief claims for new enquiries before 31 January 2016, quoting 20OFFJAN16, when contracting with us for a three year period, you can use the voucher on the Best of Eastbourne website if you are quick, or you can visit our website where the promotion will last until 5th February 2016, Click Here
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About the Author

Simon Bulteel - Cooden Tax Consulting

Member since: 27th August 2015

Simon Bulteel is the owner and Managing Director of Cooden Tax Consulting, a division of Cooden Consulting Limited. A niche tax consultancy specialising in Research and Development Tax Relief, Patent Box...

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