How do I work out my employees’ time with an R&D tax claim?

Posted by Joanne Warren 09 February 2018 03:13 PM

There are many different elements when calculating an R&D tax claim for your business. It can be easy to focus on the materials used in developing a new product or piece of software, but the time that your team spend on the R&D project will most probably be the biggest expense you have in this area. But, unless you have a specified R&D department (and most small businesses don’t) then dividing up the time of your team to separate the time spend on R&D can be a difficult ask. With UK business looking for their best way to trade after Brexit, making the most of any incentives from the government is more important than ever.

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Topics: R&D Tax

Is it true that I can claim my R&D tax relief for the last 2 years?

Posted by Joanne Warren 06 February 2018 07:42 AM

There are many questions to ask when considering R&D tax credits. But the biggest one to ask is –

“Is it true that I can claim my R&D tax relief for the last 2 years?”

R&D tax claims can make a significant difference to the finances of a small business. If you have made any advances to what you do as a business, then you could have a valid claim. In addition, you can make a claim for the last 2 tax years, in addition to the existing one.

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Topics: R&D Tax

What are the R&D tax deadlines for my business

Posted by Joanne Warren 30 January 2018 08:20 PM

R&D tax credits have been around for some time now, and it is easy to slip into thinking that you have endless time to make those claims. The scheme has been in effect for many years now. People may talk to you about making claims going back over this time. So, you can be misled into relaxing and thinking you can sort it out at some unspecified date in the future. But there are R&D tax deadlines which determine your ability to make a claim. Tax is filled with deadlines, and it can be confusing to understand what to do, and when to do it.

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Topics: R&D Tax

What Is R&D Tax In Food And Drink and How Does It Work?

Posted by Joanne Warren 26 January 2018 07:00 AM

The food and drink industry is a major contributor to the UK economy. It is the largest in the manufacturing sector and accounts for 400,000 jobs in the United Kingdom. Many of these are in SME firms that produce products for consumption in this country and across the world. Exports are growing annually, and this is a trade that the UK relies on to expand into new markets and drive trade.

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Topics: R&D Tax

Warning: These 7 R&D Tax Myths Can Seriously Harm Your Business

Posted by Joanne Warren 22 January 2018 02:00 PM

R&D tax credits are helping companies all over the UK to expand, take on more staff and achieve their goals. As UK manufacturing grows and business looks to life after Brexit, there is something that lurks in the background and threatens your business.

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Topics: R&D Tax

Are you a one in a million business? Find out why being one in a hundred might be better for you

Posted by Joanne Warren 19 January 2018 08:57 AM

We’ve all heard the phrase ‘one in a million,’ and we’d like to think our business fits that description in some way. It means that we are original, unique and stand the best chance of being able to differentiate from our competitors.

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Topics: R&D Tax

Overspent in 2017? Dreading the start to 2018?

Posted by Joanne Warren 17 January 2018 07:53 AM

It can happen in our business, as well as our personal life. The run up to Christmas always feels like it is filled with expense. There are the decorations, the office party, gifts for the team and suppliers as well as the fact that your business may well be closed for some time over the festive period, with little income coming in but a team that still need to be paid. Often, we bring the December payment forward, so it only comes a few weeks after the one from November. All in all, Christmas and the New Year can be a major expense for a business. We all need to hit the ground running in 2018 to make sure we are back generating the income that supports growth.

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Topics: R&D Tax

What might affect an R&D tax claim?

Posted by Joanne Warren 15 January 2018 09:46 AM

Many companies are finding that R&D tax claims make a massive difference to their business. A successful claim can mean tens of thousands of pounds back into the company as either a reduction in the next corporation tax bill or cash into the business. The economic outlook is constantly in change, but we can take control of our own business affairs. But there are some factors that can affect an R&D claim for an SME.

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Topics: R&D Tax

Why choose an end to end service for R&D tax credits?

Posted by Joanne Warren 12 January 2018 01:44 PM

There is more knowledge out there now than ever before. We can click on Google and quickly find out how to do pretty much anything from changing a fuse to putting a marketing plan together. As a small business, it is often tempting to save a bit of money and try the DIY approach. With access to guides online, you may feel that this is the safest route to go. But with R&D tax claims at a painfully low take-up rate, the evidence suggests that this isn’t the way SME’s are going about things. The question needs to be asked, though – why choose and end to end service for R&D tax credits?

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Topics: R&D Tax

Brexit Britain and the formula for success

Posted by Joanne Warren 10 January 2018 09:41 AM

Everybody and their dog seems to think that they have the formula for success when it comes to Britain’s place in the world after Brexit. There is no doubt that we will have the freedoms to do something very different after 2019, the conversations about just what those changes might be are only just beginning.

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Topics: R&D Tax