R&D Tax Credits

Is your business missing out?

Research and Development (R&D) tax credits are a great way for companies to save money while investing in innovative new products, processes, or services. Companies who spend money on research and development of their projects are eligible to make a claim for R&D tax relief which can result in either a cash payment or reduction in Corporation Tax.

How we can help…

To qualify for an R&D tax credit, the company must be actively developing a project which could lead to an improvement of existing products, processes or services. In some cases, even when unsuccessful projects occur the company may still qualify for the tax credit as long as it meets certain requirements. Companies should keep all receipts, invoices and other documents related to their research and development project as these will help determine eligibility for the tax credit.

With this valuable form of financial aid, companies can reduce their overall costs while continuing to invest in new and innovative products, processes and services. For more information on R&D tax credits and how to apply, contact a TaxWorthy advisor today!

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