out there who neglect to claim within the statutory period of between two and three years and miss out on colossal sums . I ’ d hate to be their FD when they find out !
How easy is it to submit a claim and how long does it take ?
To do it yourself is incredibly difficult , and I ’ m not just saying that because we benefit if you come to us . The legislation gets incredibly technical and we ’ ve heard of cases in the past where huge sums have to be handed back . You don ’ t want to end up in that position . Either use an accountant who knows their onions ( some do ) or partner with a reputable consultancy like us , either directly or through your accountant . We make it look easy but then we ’ re doing it day in , day out . A typical claim will take four to five weeks to put together from start to finish .
What do businesses miss or mistakenly believe aren ’ t eligible for R & D relief ?
In any industry , when you have someone at the coalface every day — be it a CEO , Finance Director or whoever — it ’ s easy for them to think their problem solving is just run of the mill . When we look at it through the lens of the legislation and show them why they deserve extra credit for it , there ’ s often a lightbulb moment where they realise they ’ ve been performing R & D all this time . It all comes down to risk . If there ’ s any uncertainty , and if a company is taking a risk by attempting to resolve some form of scientific or technological challenge , then chances are the work will qualify for tax credits .
How often can a business claim for R & D ?
Every financial year , providing the company continues to carry out qualifying activity .
What ’ s your top tip for anyone looking to submit a claim ?
Don ’ t claim for things that don ’ t qualify ! It sounds obvious but companies can get themselves into a right mess . Get someone to do your claim who knows the difference . If you can , seek out specialists who employ former HMRC staff . We do , and it ’ s often a good sign .
Catax is an industry-leading tax consultancy that specialises in specific tax reliefs and grant funding . Employing over 120 individuals across the UK , Catax can maximise the claims made for clients .
The team has helped clients claim nearly half a billion pounds in tax relief , often invested back into the business to fund further research projects , hire new staff , or improve business premises .
If you ’ re interested in finding out whether your business , clients or network could benefit , speak to Catax today .
Brendan Keane
Regional Development Director
No risk-service .
If no grant or claim is identified , there is no charge .
The process is made simple . All we need is a couple of hours of your time , then our specialists will take care of the rest .
The experts in tax relief and grants services . The team has helped over 15,000 clients receive over £ 444million back into their businesses .
An average of £ 77k back into your business
Contact us on : 0300 303 1903 email : enquiries @ catax . com or visit : www . catax . com