If you’ve created an innovative way of working, a piece of machinery or some software, you could be entitled to a significant reduction in your Corporation Tax. Lots of companies don’t realise they qualify – it’s estimated that only 15% of those eligible apply. A quick phone call to MSC Associates could ascertain whether you meet the criteria – contact us today!
R&D is not restricted to high-tech companies or scientists in research labs – we’ve helped many businesses claim back significant sums where they had previously believed they did not qualify. On some occasions, we’ve even worked with companies who’ve been previously rejected by HMRC.
“Working with MSC has shown us just how time spent on R&D is rewarded. This will lead to a massive longer term return on our commitment to innovation.”
The UK Government has a surprisingly wide definition of R&D for tax purposes. It covers ‘activities that overcome uncertainties’, aimed at achieving a technological or scientific advancement. An advance in technology or science does not necessarily mean ground breaking or novel but it must stretch the boundaries of the field it relates to. If you have made something cheaper, faster, smaller, larger or longer, then it could count as R&D. Similarly, if you have duplicated a product, process or service and improved it by doing so, you could also be eligible.
Jonathan Bostock CEO, People Matters Network Ltd
Common Characteristics of R&D claims
Common Characteristics of companies we have worked with:
- They had no idea they may be eligible
- They didn’t think they would qualify
- Some of them are making losses – this doesn’t prevent a claim
- They thought that having any contact with HMRC could be detrimental to their company’s health
- Their accountants told them they wouldn’t qualify
- Their technical people diminished their achievements
- They all received substantial sums of money (average claim value £35k)
Common characteristics of claims we have made:
- MSC manage the whole process – we are experts with broad sector experience
- If we can’t get money for our clients, there are no charges
- We deal directly with the specialist R&D Tax Relief units set up around the country and we know them well. They are more helpful than our clients imagine
- We ask prospective clients to complete a pre-qualification questionnaire
- We’ve built an enviable track record because we know what we are looking for and how to present it
- Many of our clients and their accountants would have talked themselves out of claiming had we not become involved
“Call the office and talk to one of the team, we are very happy to have an informal conversation and can quite quickly establish if there is an R&D claim for your business.”
Steve Crooks, MSC Associates