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Calling All Innovative Start-ups … Let R&D Tax Credits Help Fund your Business

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LimestoneGrey is a firm of Chartered Tax Advisors who specialise solely in helping companies make successful R&D tax credit claims which are fully optimised, so you get the full amount of relief you are due.  They do this completely risk free – if HMRC do not accept your claim, then there is nothing to pay!  LimestoneGrey also provide a free no obligation initial consultation, and do not tie you into any long-term contracts – so you really do have nothing to lose.  If you think there is a chance your company could benefit from the relief why not request a call back from one of the chartered R&D tax specialists who would be happy to discuss your business and whether you could make a successful claim.

We all know that the first couple of years for any new company are challenging; learning about a new industry, developing your products and processes, finding the best ways to market your business, keeping up to speed with new legislation and business law. Keeping on top of everything is often a struggle, and usually all needing to be done on a limited budget.

Why not reward your innovation and allow the cash benefit from an R&D claim help support you and your business, either by funding the next stage in your development process or for improving your company cash flow?

To provide a bit of background, R&D tax credits are a form of corporation tax relief which is available to any company in any sector and are often worth in excess of tens of thousands of pounds in free cash to eligible companies.

Many start-up companies haven’t heard of R&D tax credits or have reservations about the claim process; reservations which simply are not true.

Let’s take a look at some of these in turn…

I am only a small company with limited employees, so I won’t qualify

X wrong

As R&D tax credits are a form of corporation tax relief, they available to all limited companies, irrespective of their size. The claim is made as part of your corporation tax return.

The development work my business conducts is not world beating research, so I won’t qualify

X wrong

The R&D tax credit scheme is available to any company in any sector. You do not need employees with PhD’s and white lab coats to qualify. Work undertaken to achieve iterative improvements to existing products, processes, services, software or devices could still qualify.

My company did not make a profit this year so I won’t qualify

X wrong

R&D tax credits reward profitable companies with a generous corporation tax reduction, but they can also provide loss making companies with a sizeable cash repayment (a kind of negative tax).

I had R&D costs in my accounts last year but none this year, so I won’t qualify

X wrong

You can go back in time to make a claim, up to a maximum of two accounting periods.  Basically, you have two years from the end of your accounting period in which to make your claim, so there is still time to make a claim for development work you did up to 3 years ago.

My project was not successful so I won’t qualify

X wrong

The project doesn’t need to be successful. If the project failed you can still make a claim.

Managing a start-up is very intense, I don’t have time to work on a claim

X wrong

LimestoneGrey are Chartered Tax Advisers that specialise exclusively in R&D tax credits, therefore we have a thorough understanding of the tax legislation and HMRC practice, as a result, we are able to offer a service which helps to:

  • Ease complexity
  • Minimise your time and effort
  • Minimise HMRC risk
  • Maximise claim acceptance

Our advice to you would be to seek advice from one of our specialists to see if you are eligible, and we can tailor a package that suits you and your company.

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LimestoneGrey is not your average tax consultancy. As the only firm of Chartered Tax Advisers dedicated to R&D tax credits in Wales, we pride ourselves on our refreshingly unique approach to Research and Development (R&D) tax credits which makes the claim process simple and straightforward.

We specialise exclusively in R&D tax credits – this level of specialism provides us with a more thorough understanding of the tax legislation, HMRC practice and how it could impact your business. Based in South Wales, we are passionate about helping Welsh companies from all sectors successfully claim what they are entitled to, which often equates to tens of thousands of pounds or more.

We appreciate that the claim process can be a little overwhelming. There is so much information available that it is hard to know where to begin. Our Chartered Tax Advisers provide a complete R&D service ensuring your claim is fully optimised, providing you with peace of mind and confidence, whatever your industry, size or structure.

More companies qualify for the relief than you may first think. You do not need to be undertaking cutting edge research to make a claim – this is the biggest misconception surrounding R&D tax credits. You simply need to demonstrate that your company has undertaken work which was not routine or easy to achieve. Our experienced advisers can help pull all the necessary information together and present it in the correct way.

All this can be done risk free – if you do not receive a benefit then LimestoneGrey won’t charge you anything! Contact us to speak to one of our specialist Chartered Tax Advisers

 

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