Research & Development (R&D) tax credits can be claimed for the last two financial years. Companies can claim for their last two financial years if it’s the first claim the company has made regarding R&D tax credits. To better understand if you have qualifying R&D expenditure or if you are eligible for R&D tax credits claims, read our other articles here. The HMRC initiative was first introduced for SME’s in the year 2000, as an incentive to encourage scientific and technological innovation in the United Kingdom, having positive paramount impacts on the innovation of businesses.
However, companies are unaware of the opportunity or think they do not qualify, leading to companies passing their year-ends without claiming. If companies do not claim, they lose the right to claim back research and development tax relief pertaining to the expenditure for a full financial year. The average rebate ShenCoh Ltd have been achieving for their clients is £42,000, meaning it could be an extra financial support that you are entitled to by HMRC.
We recommend getting in touch to take advantage of the opportunity, even if you are unsure if your company is qualified for the R&D tax credits claims. Check out our online R&D tax calculator to calculate what the potential return you are entitled to by HMRC.
How can SHENCOH help with R&D tax credits claims?
Take the R&D Eligibility Quiz to find out if you have qualifying R&D expenditure.
ShenCoh Ltd is an R&D tax specialist company, with methodology and practices recognised by HMRC. We pride ourselves on not taking more than 3 hours of your time from start to completion, on a no win no fee basis. If you are interested in learning more or need help putting a claim in, please fill in the contact form here or give us a call on 0161 757 3657.