Mar 1, 2021
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How businesses can take advantage of R&D tax relief to overcome cashflow issues?

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R&D (Research and Development) Tax Relief can play an important role to boost your business cash flow. It provides forward-thinking and innovative businesses with the fund they need to bring up their next idea and always stay one step ahead in such a competitive market. 

Companies that innovate, even if it means developing or applying technologies that their competitors are already using, can take advantage of R&D Tax incentive.

What companies can benefit from R&D Tax Relief?

Many companies believe that they have to invent something disruptive to apply these incentives or have a specific R&D department. This approach collides with reality.

Companies that innovate, even if it means developing or applying technologies that their competitors are already using, can take advantage of this incentive.

Deduction percentages and application limits:

Although tax deductions for R&D are an extended and well-known incentive by most companies, doubts sometimes still arise about the deadline to apply them, the limits to do so, or the deduction percentages on project expenses.

In the first place, it must be introduced that the tax deduction for R&D is established as a percentage of the expenses incurred by a company in R&D activities. These expenses, deductible in the profit and loss account of the company, will give the right to an additional tax deduction in instalments.

Once this introduction has been made, it should be remembered that this tax incentive distinguishes between two types of qualification for the nature of the activities that R & D projects comprise:

1. Research: They have a higher percentage of deduction on the expenses incurred, implying a greater technical demand on the project. This should involve the generation of scientific knowledge that represents an objective improvement in the sector of the applicant company.

2. Technological Innovation: It has a lower percentage of deduction on expenses, assuming a lower category than the previous point in terms of the technical level required of the project. It will be enough if it represents a subjective improvement for the company itself.

How R&D Tax is the best business growth tool?

– Helps to create additional cash flow

– Attract new potential investors

– It reduces an upcoming or outstanding corporation tax bill

– It provides fund for further investments in innovation

– It sharpens your competitive edge

Know if you are eligible for an R&D claim?

– Does your company design and make products?

– Does your company provide a time-efficient and cost-effective process?

– Are you busy researching and developing current projects? 

– Does your company perform testing or making prototypes?

– Are you planning to improve materials, services, devices, or processes?

– Does your company develop IT solutions or Software?

– Have you invented any projects or developed any products which are never launched?

– Do you want to improve the process?

– Does your company have any staff with a scientific or technical background?

Know if you are eligible for an R&D claim
Know if you are eligible for an R&D claim?

How Grantly can help you?

There are thousands of websites claiming to be R&D advisors, However, it is really hard to find legit service providers, Provide good service and who charge an arm and leg and that is where Grantly comes to the rescue. 

At Grantly, we work closely with multiple R&D advisors and R&D providers, Using our experience we can assign you the best service providers who specialize in your Industry.

We aim to connect our customers to the best R&D tax relief advisors.

At Grantly, our partner experts offer a free of cost no-obligation consultation to limited companies to determine whether the activities of the business can benefit from these deductions, and study the incentive’s potential. 

Our Partners have years of experience in this field and so they can provide the 100% free, reliable, and trustworthy service which connects R&D advisors and businesses who are looking for R&D grants in the UK.

If you need help with the application of this incentive, you can get in touch with us, and we will help you connect with the best advisor who will provide you with a fee model linked and proportional to obtaining results. 

How does it work?

At Grantly, we make the entire process of R&D tax relief painless. You just need to contact us through our website. Then, we will prepare you for a call with one of our partner chartered tax experts. Then our advisors will draw all the technical challenges or the innovations implemented around the processes, services, or products. 

Our partner expert representatives in this area have developed a unique approach to creating an R&D tax credit claim. Our R&D partners can maximize every claim to its full possibility, thanks to their close relationship with HMRC.

Why apply with Grantly?

– No minimum claim

– High success rate

– You no need to pay anything upfront

– Get a personal advisor for R&D tax relief claim

– Easy and quick process

To qualify successfully for tax relief under the R&D scheme, you must meet certain requirements. you can find out more by filling up our R&D Tax Relief application form.

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