Are you a tech business? Then you should be claiming back your development costs.

Are you claiming back up to 33% of your development costs?

It’s a shame when brilliant ideas are left in limbo before they are able to come alive because of financial constraints. Did you know that most founders underestimate how much time their startup will need to achieve market validation by 2–3 times? What if one of these businesses runs out of money before anything viable can be completed, then this means that many great ideas are never given the chance they deserve. How many businesses could have succeeded if they had more time and money?

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  • Are you trying to improve or extend existing products/processes?
  • Are you trying to get different systems to talk to each other?

How can you claim R&D tax relief?

R&D tax credits are a type of Corporation Tax relief; therefore, it’s tied to your accounting period. You should be on the lookout for any expenses and begin recording the work that could potentially qualify for a tax deduction, especially if you are close to filing your Corporation Tax Return (CT Return). This will help create strong supporting documentation to be submitted to HMRC.

What will you need?

To support your R&D tax relief claim, you need to submit a technical narrative outlining why the work qualifies for the relief and the calculations that adhere to HMRC’s requirements. The process may sound difficult but with correct tools it isn’t and is definitely worth it! As a startup, there is one main thing you can start doing today to help you create concise, compliant claims?

Think you qualify?

There are two primary ways you can go about making the claim. You can hire an R&D tax relief consultancy firm (like us) that will do the whole process of creating the claim for you, such as talking to the staff to understand the types of projects you do and writing the technical narrative, including all the required financial calculations.

Business consultants specialising in partnership models, group structures, and cash flow support via R&D tax relief. We help create capital businesses.