Presentation for: XXXXXXX Presentation by XXXXXXX
Chartered Tax Practice Directors
Company Information:
Gary Hilton Head of R&D Consultancy
Anthony Hurley
Specialist Tax Consultant
Sam Dallow Head of R&D Analysis
• Established in 2020 by Gary Hilton & Sam Dallow (Over 10 Years Experience in tax & accountancy) • Head Office – Media City, Salford • We deliver an unrivalled and elite service in tax consultancy, putting the client’s interest at heart whilst ensuring that full compliance is met • Over £5M claimed back for clients at Counting King • Year on Year Organic Growth (usually referrals from existing clients!)
R&D Tax Credits is a government incentive designed to reward innovative companies by providing tax relief in the form of a reduction in their corporation tax bill or in certain cases a cash payment! This is based on certain costs spent during the R&D process and is aimed at helping to promote innovation and growth within the UK.
3 Easy steps The R&D Tax Credits scheme can be used by any organisation which is liable for corporation tax in the UK and meets the necessary R&D criteria. The work that qualifies for R&D tax relief must be part of a specific project (or day-to-day activity) that aims to make an advance in its field. The project may consist of research or developing a new process, product, or service or improving an existing one by adding a technological advancement. There are 3 essential criteria that must all be met to ensure a valid claim: 1.
Technical uncertainty and advancement; there was a degree of uncertainty about whether or not there would be a successful outcome
2.
Financial uncertainty; there was a financial risk involved whereby it was accepted there was expenditure but with no guarantee of success at the outset
3.
Systematic approach or methodology; a logical step-by-step process was used in the pursuit of trying to close a technical gap and to try to achieve an advancement
2021 Statistics
85,900 R&D Tax Credit claims 2019-2020 64% of claims for 2019-2020 were in ‘Manufacturing’, ‘Professional, Scientific and Technical’, ‘Information and Communication’ 22% increase in SME claims £47.5bn is spent on R&D activity in 2021 11% increase in RDEC claims 25% increase in first-time applicants
Key partnerships PRODUCT/SOFTWARE/APP DEVELOPERS
UNIVERSITIES
ACCOUNTANTS
GROWTH HUBS
INVESTORS
TECH COMPANIES
MANUFACTURING COMPANIES
BUSINESS COACHES
INDIVIDUALS WITH BUSINESS BIG CLIENT NETWORK PROFESSIONALS SCIENCE
LAW FIRMS
PARKS
BUSINESS PROFESSIONALS
BANKS
INNOVATION CENTRES
R&D Testing Facilities
Commercial Brokers
Examples of R&D Claims £169K Received A clothing designer and manufacturer received the amount above. Much more than their expected amount as a result of designing their own clothing line, testing, and using different materials for durability.
£17K Received We helped a new tech start-up company claim back the above amount as a result of the new tech they have developed in the form of software and applications.
£450K+ Received
£102K Received
A window manufacturer received the above amount due to them creating bespoke and modern designed UPVC windows. The main aim was to create a better warm light environment from their bespoke energy-efficient windows.
A company in the automotive industry claimed the above back as a result of enhancing and modifying bespoke machines and equipment to allow the custom modification for their cars.
£10K Received We helped a food manufacturer claim back the above as they had invented and developed a bespoke gluten-free ice cream amongst other bespoke gluten-free products.
£40K Received A construction company claimed back the above amount from creating bespoke materials which improved the durability of the end product.
How do R&D Tax Credits work?
Step 1: Invest in R&D eligible projects.
Step 2: Submit a R&D Tax Credit Claim.
Step 3: Claim back up to 33% of the eligible costs incurred.
Step 4: Grow your business (and re-invest in R&D eligible projects for a larger incentive).
The Portal: • Get your own private login • Track each step of your process • Get updates whenever you require • Recommend friends and follow their process • Manage claims and referral earnings • Simple step by step
Any Questions?