Understanding what qualifies as 'research and development' for tax relief purposes is rarely clear to business owners or their professional advisors. This is where Business Cash Enabler's services prove invaluable with a free assessment of eligibility, with no disruption to business.
Many have found a considerable cash benefit, often in six figures, with the HMRC R&D Tax Credits scheme for innovative businesses.
Many businesses have missed out on research and development tax credits for two key reasons:
1) They simply weren't aware that they had cash-back or tax relief entitlement,
2) They have already claimed but the amount they received was nowhere near their maximum entitlement.
Business Cash Enabler can ensure you don't miss out either way.
R&D Tax Credits Alert!
You Don’t Have to Pay a Penny
Looking to claim under HMRC’s R&D Tax Credits scheme that rewards business for unique innovation? No doubt you have come across many websites with claims providers’ of all sorts offering to manage your claim. Confusing? Are you eligible? Should you allow your accountant to claim for you, should you do a DIY claim, should you give all your details to another accountancy firm, will you incur costs just to look into this?
Business Cash Enabler provides a FREE service to assess your eligibility against HMRC requirements.
Allow me to introduce myself. I am Rob Sowden, I am the “Business Cash Enabler”, I have been involved in specialist tax consulting for 8 years. Based in Bournemouth, I have 'enabled' over £25 million of qualifying expenditure that would have otherwise slipped the net. I have assisted businesses in many counties, many have received a six figure HMRC cash-back! My service is totally without charge. It doesn't interfere with your relationship with your accountant. Below I address some of the key matters that represent myth, mystery and misunderstanding in the area of Research & Development Tax Credits, which has resulted in £millions of unclaimed net cash benefit to businesses.
How Can Business Cash Enabler Help Me Get More Back?
As a specialist with no mechanism to invoice your business, you can receive advice on new claim or uplift potential. If you are eligible, you will be offered a claims management service that provides an industry sector-specific technical analyst such as a scientist, engineer, specislist in manufacturing, software, IT, etc, along with a team of tax advisors, and their model is no-win-no-fee. They are well known and respected by HMRC and have submitted over 6,000 R&D claims with over £200 million in claim value, with 100% success. Your accountant is kept in the loop and provided with the claim report. Business Cash Enabler's service is free of charge and it is entirely up to each business to decide if they follow the recomendations or not, or choose a different claim route.
Ask for a free health-check, you will likely be able to find out on an initial call if you are eligible. Business Cash Enabler is based in Bournemouth and covers Dorset, Devon, Cornwall, Somerset, Wiltshire, Hampshire, Berkshire, London.
Business Cash Enabler is a member of the Dorset Chamber of Commerce & Industry, the Hampshire Chamber of Commerce and is a supporter of Silicon South.
My Accountant Does This
This rarely produces your maximum entitlement because a claim is about technology workstreams. Typically accountants will ask you as the client to write a technical report and then they put the numbers alongside it. They are relying on you to know what the scheme rules allow as qualifying R&D. Your accountant may be worried about another company handling your claim for you, is this a rival accountancy firm that may entice you to switch accountants? However, working with a specialist provider that doesn't take on compliance accounting, there is nothing to worry about, especially if the model is no-win-no-fee. I have many accounancy firms who refer clients to me, once they realise there is no risk to their business. Check out the case studies tab for examples.
Tip: Work with this specialist provider, will typically uplift claim values by 100-200%, or more.
We Already Obtained a Tax Credit / Cash-Back
It is possible to resubmit the Company Tax Returns with any R&D uplift identified for the prior two accounting periods. As noted above, this is often 100-200% more which means you may be sitting on a sizeable under-claimed cash pot.
Tip: Obtain a free health check to assess if maximum entitlement has been received.
I Can Get a Lower Success Fee
This is a red herring that causes many business to lose out on tens of thousands of pounds. It is not the lowest fee that guarantees the maximum net cash from the scheme. The greatest gain comes from identification of ALL qualifying expenditure under scheme rules. A low fee on low level of expenditure will almost always result in less net cash (after fee) than a higher fee from a specialist provider that identifies maximum qualifying expenditure. Unfortunately, many clients have gone the low fee route and they never know what they didn’t get!
Tip: Don’t focus on the fee rate but on the ability of the claims provider to identify all qualifying technology workstreams, including in-house IT and software projects. Ask for a free health check to look at any shortfall in the last 2 accounting periods.
Should I use the HMRC DIY claims service called "Advance Assurance"?
That is of course entirely up to each business to decide, however, this is really best suited to businesses with low PAYE headcount and low qualifying expenditure. A one or two director type business may be better off with the Advance Assurance route. Most business owners/directors don't seem to find the time to devote to compiling a DIY claim. If your business is innovating and has a number of development staff, or if you are involved in complex technological improvements, it is highly likley that you will get a better net return by using a professional claims provider, often 100-200% higher claim values. A specialist provider will also deal with any resultant enquiries from HMRC until resolution.
Tip: SImply ask Business Cash Enabler for guidance on which route to go, there is no charge for this guidance.
For more information on common questions, please check the FAQ tab.