Government Grant and Tax Consultants (www.ggtc.co.uk)
The R&D tax credit scheme can provide companies with a much needed cash injection of on average £120k for SME’s and £900k for large companies in the initial claim year and then £40k and £300k pa on-going*. At a time when business funding streams are increasingly difficult to find, “R&D tax credits remain the biggest single funding mechanism provided by Government for investment in business & R&D” Source dept of BI&S
The Scheme enables companies to recover development costs invested in areas such as developing innovative or appreciably improved products, technology, systems, materials or manufacturing processes and services.
Government Grant and Tax Consultants operate exclusively in this field and have processed over £25m of R&D tax credit claims for hundreds of companies. “The breadth and scope of R&D is far greater than people think, we have a 100% success rate on client claims, over 95% of the companies we meet with are eligible for the scheme yet the majority had not heard about it or did not think they qualified.
*Companies can initially claim back 2 financial years and then their current tax year. HMRC average SME claim is £40k p.a. and £300k p.a. for large companies.