Right now, the government is throwing a lot of money at business owners. Money to help businesses strive to survive these incredibly difficult times and rightly so. But in most cases, all this money will eventually need to be paid back. At the same time, it’s hard to estimate just how long it’s going to take for businesses to get their hands on these critical funds.
But there are other options and one that is massively underused by so many businesses: that’s R&D Tax Relief.
No loans hanging over your head. Just money. Money that actually belongs to you.
You’ve no doubt heard of this relief, it’s an extremely generous one. We’re talking 33% of the costs incurred on activities that are considered eligible and this money can be used for any purpose.
However, it’s all too easy to rule yourself out, if you don’t fully understand the ins and outs. I imagine you hear R&D and immediately you’ve got images of men and women in lab coats. It’s really not that black and white though. Businesses across any industry can absolutely be eligible to make a claim.
Is Your Business Eligible?
There are two steps to complete, to determine whether you are eligible – here’s step one.
Give Chris a call on 01772 204102 and we’ll take you through a very simple eligibility checker. If you can answer yes through to the last question, there is a high possibility you will be able to make a claim.
After completing the questions, if we think you are eligible, or even if we are unsure, we’ll take you through step two, which is a call with our R&D specialist Tim, from our R&D partner Radish Tax, who will hopefully give you the green light.
I Already Claim, Is There Anything I Can Do?
In short, maybe. If you are already claiming, there may be steps that could be taken to determine even more funds, or potentially bring forward future funds.
If cashflow is high on your agenda and you’re considering funding options, this is something you need to explore.