How Much Will an R&D Tax Credit Claim Cost Me?

How Much Will an R&D Tax Credit Claim Cost Me?

A common assumption innovation funding specialist MPA hears when speaking to businesses considering whether to make a claim is that “it’s really expensive and that they can use the money elsewhere”. This isn’t really true, as the R&D tax credit scheme offers a way to recover up to 33% of the money already invested in R&D activity, which you wouldn’t be able to get back otherwise.

How much does an R&D tax claim cost?

The cost of a claim is dependent on the amount that you spend on your R&D. Specialists tend to charge a percentage of the overall claim value; and MPA takes this one step further, asking for no payment in the case that a claim is unsuccessful.

Do I need an expert to make an R&D claim?

It’s recommended that you consult a specialist to make a claim to avoid making mistakes and finding yourself in an HMRC enquiry, as well as not getting the maximum value from your claim. By working with an expert, you can rest assure that you are getting the best value without the risk.

Unlock investment with R&D tax credits

With the average SME claim value sitting at £54,000, it’s worth exploring whether you qualify – or equally whether you’re getting everything you can from the scheme. This relief can be received and used in various ways. It can be used to reduce costs such as Corporation Tax, received as a cash rebate, loss relief or a combination. No matter how you receive your relief, the scheme is designed to stimulate innovation so the more you re-invest in R&D projects each year, the more you could get back the following year and so on.

Claim what’s yours

If you’ve invested in R&D activity and projects over the past two financial years or you’re planning R&D activity in 2020 then you should consider claiming back what is rightfully yours from HMRC. Speak to an expert like MPA for advice on how to maximise your claim.

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