What are R&D tax credits

First introduced in 2000 R&D tax credits are designed to encourage businesses to invest in developing ‘new’ or ‘improved’ products. Many companies are put off by the words ‘Research and Development’. They often interpret the phrase as meaning that they have to be a research company, work from a laboratory, wear white coats or maintain a large team. In reality, if you innovate and improve the way something works in your business and the outcome lacked ‘certainty’ from the start, you may qualify.

There are two different routes to successfully claim R&D tax credits. This first being SME for businesses that employ under 500 staff as well as having an annual turnover and balance sheet of less than €100 million and €86 million respectively. The other scheme, Research and Development Expenditure Credit (RDEC) is for any business above these thresholds, as well as some below, and that’s when you start getting into the finer details!

At Fiscale, we also help businesses with Patent Box claims. The Government introduced The Patent Box scheme in April 2013, to incentivise businesses to protect their intellectual property. Therefore, the Patent Box scheme has been designed to reduce the Corporation Tax (CT) that companies would pay on any profits that are obtained from qualifying intellectual property (IP).

Who We Are

Fiscale is a specialist tax advisory company, formed in 2014. The world of R & D is ‘specialist’ and the current direction of travel from HMRC, is that businesses should engage with specialist tax advisory firms rather than ‘generalists’, after all, you wouldn’t expect or want your GP to undertake open-heart surgery would you!

We also recognise the importance of evaluating internal systems, cloud security, compromised cloud accounts, and the human element. Our comprehensive approach includes testing against phishing attacks, malware assaults, and access controls.

We leave no stone unturned to ensure your organisation is protected from all angles.

How It Governance Can Help You

At IT Governance, we offer CREST-accredited penetration testing services that are tailored to your specific needs and budget. Our proprietary security testing methodology is aligned with industry best practices, ensuring accurate and reliable results. Whether you require a Level 1 test for basic vulnerability identification or a Level 2 test for more complex environments, we have the expertise and experience to deliver.

Please contact us at www.itgovernance.co.uk or email servicecentre@itgovernance.co.uk

We work with companies to identify qualifying projects and then help guide them through the submission process. Since 2014, we have helped companies in a variety of different sectors to receive tax credits in excess of £10 million.

Client Success

As mentioned above we have successfully claimed in excess of £10 million for businesses that were eligible for R&D tax relief. But this is not a one business success story, we have helped over 200 separate businesses, from software developers to fudge manufacturers, from large scale construction businesses to small scale sign manufacturers.

Might your business be missing out on these opportunities and if so, maybe it’s worth a call to explore the possibilities?

Please contact us on 01440 708333, email info@fiscale.com or visit www.fiscale.com