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R&D Tax Claims Hit New High. Are you missing out?

The number of businesses claiming tax relief on Research and Development (R&D) has increased significantly, with the latest figures indicating a 24% rise in claims since last year.

The big question is, could you be eligible to make a claim?

The scope for identifying R&D is huge – in fact, it exists in every single sector and the HMRC R&D criteria is broad and far-reaching. In general, if you have spent money developing new products, processes or services; or enhancing existing ones, you could be eligible for R&D tax relief.

It’s easy to overlook the idea of R&D claims, thinking they are only applicable to large businesses or businesses investing significant sums.

However, many businesses may in fact be eligible to claim – especially since the original minimum R&D expenditure of £10,000 was removed in April 2012. This has opened the door for SMEs to claim back vital funds, and with the average SME claim in the UK coming in at £53,876 (2016-17), what are you waiting for?

Although many companies claim to be able to help with R&D claims, few actually have the knowledge and expertise.

The team at Stafford & Co have achieved great success for clients. One of our happy clients is Ben Griffiths of Clever IT, who we helped to reclaim over £8,000:

“Before speaking to Stafford & Co, I was unaware of R&D tax relief. However, they quickly explained how and why I would be eligible for this and efficiently put the claim together for me and submitted it to HMRC. I was over the moon, to find out that our claim had been successful, and I was reimbursed over £8,000. Thanks again Stafford & Co”.

So, if you’re looking to get 2019 off to a great start, we can’t think of a better way than to talk to us about making an R&D claim. Contact us on 01204 368 550 or email info@staffordandcompany.co.uk.