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R&D Tax Credits mean real cash help for innovative businesses just like yours.
Does your company qualify for R&D Tax Credit money? As a CIU member the answer is almost certainly a big ‘YES’.
Research and Development is not all boffins in white coats, not even is much of it ‘rocket science’. It is about activities undertaken to develop innovative solutions to problems, it is about overcoming technical uncertainty, it is about advancing knowledge. All of these are activities that your forward moving company is familiar with.
But not many company accountants or professional advisors are. You could be missing out big time.
In essence, each piece of work that you have undertaken that could be described as development has to pass these three tests.
1. Has the project resulted in technical advancement or new knowledge? (Almost all advances do)
2. Were there uncertainties in the project, could it have failed? (Uncertainty is endemic in any R&D)
3. Was there a process applied to the project to surmount the uncertainties? (If there wasn’t then you probably would not have resolved it anyway)
Note that there is no requirement for the project to be successful. You may have had a project that showed how NOT to do something – that’s technical advancement, so long as it was a well-managed and executed project. After all - there were uncertainties in the project!
To find out more contact us today. You can claim cash rewards for your past two closed financial years, so get moving before you loose it.