Want to know more? Contact our team of experts today and see how much your claim could be worth!
R&D stands for research and development. Research & development is a government incentive designed to boost innovation across multiple industries, including the Software & IT Sector. This is an opportunity for you to reduce your corporation tax bill or receive a refund from HMRC based upon the working hours your business dedicates to R&D.
If your business is involved in software development, there is a great chance you could benefit significantly from the government R&D Tax incentives. Software is continually evolving e.g. a number of well-established branches continue to do so (AI, cloud, mobile) and new applications for software are developed (e.g. robots, augmented reality, IoT and others yet to come).
The government scheme is designed to drive forward innovation by supporting IT and Software companies who seek to improve or overcome challenges or uncertainties in their products and processes.
Data from Catax found that although around 800,000 businesses are likely to be eligible for R&D tax relief, just 5-6% are claiming it. This goes to show that the definition of R&D is much broader than most people think!
Software is continually evolving. Several well-established branches continue to do so (AI, cloud, mobile) and new applications for software are developed (e.g. robots, augmented reality, IoT and others yet to come).
Any company that is developing software could qualify for research and developments tax credits:
If your business is involved in software development, there’s a great chance your innovation could benefit significantly from the government’s R&D (research and development) tax incentives. We have already helped so many businesses grow in the IT & Software sector – so it’s time you took advantage of this scheme!
Work out how much your claim could be worth with our easy-to-use research & development tax credits calculator. Remember we can claim up to two years so make sure you don’t miss out on your innovation funding.
It all starts with a free, no-obligation consultation with one of our innovation relief specialists. This means that finding out if you’re eligible won’t cost you a penny. Our specialist will give you an in-depth explanation of what research and development is and what qualifies – asking you for some examples of activities your business conducts that you think may qualify for R&D tax relief.
Once a basic understanding has been established, you will be asked to send across your end of year accounts, CT600, and some other basic information. An estimated figure will be made for your refund – then your claim will be submitted.
Let’s talk about your R&D Claim