An average of £ 77k back into your business
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