Is your business eligible for R&D tax credits?

Our R&D specialists work with businesses of any size in traditional sectors, including construction, manufacturing, civil engineering, electrical specialties, and waste management – all at no risk to you or your business.

How Does It Work?

There are no upfront costs for our services, and we only collect a reasonable fee when you get the government funds. These funds are made as a cash payment from HMRC or deduction in your company corporation tax bill.

So many business owners do not realise they’re eligible for R&D tax credits because it’s often misunderstood. There are many sectors and businesses which have qualifying R&D expenditure, our expertise is understand your business in the context of these claims.

Below are the details about what is available for businesses like yours with R&D projects, as well as how we can help you secure financial support from the government.

For SMEs with R&D Spend

The R&D tax relief available to small and medium-sized businesses has improved greatly since it was first introduced two decades ago. The generous enhancement rate allows tax liabilities to be significantly lowered, creating large tax repayments where tax was already paid.

Where a loss is created or has risen, the loss for a specific period can be surrendered in return for a cash payment, even if your business never paid tax to HM Revenue & Customs (HMRC). The scheme is not meant to encourage tax avoidance but instead to boost innovation.

 

For a large company

he large company regime has also improved over time. HMRC offers the Research and Development Expenditure Credit (RDEC), which big enterprises can claim as a grant against loss rather than within the tax line. Doing so can improve visibility. Furthermore, loss-makers can apply to HMRC for cash payments.

Recent improvements have removed the stipulation that the R&D tax relief only applied if the company was paying corporation tax. However, the Research and Development Expenditure Credit does not have this tax position requirement for cashback.

How to Claim the Tax Incentive

Many UK-based businesses worry that they do not meet the requirements for R&D tax relief or are unclear about how to apply for it. Yet many of these small, medium, and large enterprises qualify and are missing out on the tax break that can make their projects easier and better.

HMRC provides specific criteria as to what qualifies for R&D tax credits. Specifically, it must be an advance in science, and our experts can determine if your project meets the qualifying activity.

Among the misconceptions is that businesses in traditional sectors do not qualify. However, we proudly help those in civil engineering, construction, manufacturing, waste management, and electrical specialties to apply for and receive cash payments from the UK government. We understand that the science and technology sectors are not the only ones with R&D tax costs.

Many companies do not know they are eligible for tax credits and miss out on opportunities and profit. We are here to make sure your business gets the deserved cash payment.

Making the Process Simpler

Veritas Noble has 25 years of practical business experience to bring to the table. Our dedicated experts understand what activities meet an “advance in science” for SMEs, as well as the Research and Development Expenditure Credit for a large company. Submitting financial and technical information is paramount to HMRC is paramount to getting approved. We submit qualifying costs, based on our deep understanding of the requirements, and everything else that is necessary for the application process.

Let us handle the details so that your business can get the cash payment from the UK government that enables your team to develop new products. Working with us is risk-free as we do not collect any money upfront. Only when you receive funds back on qualifying R&D expenditure, do you pay us a pre agreed fee.

Let our R&D specialists submit the application and handle all the steps so that you can focus on your business. Continue to invest in the future with innovative projects. Receive the benefits to which you are entitled. Contact us today to learn more.

Crushing eligibility myths...

1.

No company is too small to get an R&D tax credit. There aren’t any minimum thresholds for making a claim. 

2.

It doesn’t matter whether your R&D spending was successful or not. If you invested in creating a new product that failed when it hit the market, it is irrelevant. From the perspective of HMRC, it makes no difference. As long as the initial expense qualified as research and development under their definitions, you can claw money back. 

3.

Some businesses fall into the trap of believing that it’s too complicated or takes too much time. 

The great news is that with Vertias Noble, it’s easy to find out whether you can get research and development tax credits. We assess your current spending to see whether you can make a claim, and if you do, then we make sure that you get paid the money. We take care of the entire process on your behalf, from the initial assessment of your expense situation to the point when the money is paid into your account.