TBAT – R&D Tax Credits – What are they and how can I Claim?
Are you interested in boosting your R&D budget? Read on for an event just for you…
TBAT Innovation is hosting a free R&D Tax Credits breakfast event at the Manufacturing Technology Centre, Coventry. This event is focused on providing companies with an overview of the R&D Tax Credits scheme and how this can be claimed. This scheme is beneficial to any company performing R&D (new products, services and processes) and many are under valuing their claim or not claiming at all!
8.30am – Registration – breakfast and refreshments available
9.00am – Introduction
9.15am – What are R&D Tax Credits?
9.45am – How to claim R&D Tax Credits?
10.00am – Case studies
10.15am – Q&A
10.30am – networking and 1-2-1 sessions available
The Manufacturing Technology Centre
Ansty Park, Coventry, CV7 9JU
Free parking available on-site
To register for this free event please click here
What are R&D Tax Credits?
There is a general misconception that R&D only applies to work done in science labs but the vast majority of companies are performing R&D each and every day.
If you are developing new products, services or processes which are new to the company and not available in the public domain, then you are performing R&D. This means the money the company spends to complete this R&D can be offset against your corporation tax bill with HMRC, which can reduce the tax you pay or even get a cash lump sum back.
Eligible spend applies to a number of R&D categories:
- PAYE Salary spend proportional to time spent on R&D
- Subcontractor spend associated with R&D activity
- Material spend associated with R&D activity
- Externally provided worker cost proportional to the time spent on R&D
TBAT Innovation has worked with clients to identify eligible spend, report the eligible projects and calculate the claim into HMRC for over 8 years. Over this period we have dealt with R&D projects totalling over £250m across a range of clients from SME software developers to large multinational construction companies. If you would like to discuss your claim, contact the TBAT team.