Increase your cash flow with our trusted R&D tax credit service. Our R&D tax specialists will guide you through the application process and ensure that your business is compliant with HMRC.
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Our industry experienced R&D experts are on hand to ensure your innovation receives the funding it deserves.
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R&D tax relief can provide an important source of funding through cash reimbursement or tax deduction for innovative companies. This relief can be worth up to 33.35% of a company's R&D expenditure.
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We will ensure all documentation is of the highest standard as well as dealing with the HMRC submission.
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Sleek is a member of The R&D Community, a group of R&D specialists with the goal of making the industry a better and more ethical place for all involved. Sleek is also part of the Good Practice Marketing Standard as per The R&D Community, showing our stance when it comes to R&D tax relief.
R&D for tax purposes is available when a project seeks to pursue advancements in science or technology. In order to qualify, the activities directly contributing to achieving these advancements must be carried out within a context of scientific or technological uncertainty.
If you are developing new products, processes or services that extend overall knowledge in a field of science or technology, or making appreciable improvements to an existing product, process or service, then you may be eligible for R&D tax relief. Getting support from an organisation such as Sleek could be invaluable in this process.
If you would like to read more about HMRC’s definition of R&D for tax purposes, click here.
Companies can receive back between 18.85% and 33.35% of qualifying expenditure if they are eligible for R&D tax relief. This is received either through cash reimbursement or via a tax reduction. The total amount will depend on whether the company is making a loss, a profit, or breaking even. In addition to this, R&D claims can be made retrospectively for any R&D activity carried out in the last two years. To gain insights into whether your business could qualify for R&D tax relief, feel free to get in touch with us for a free consultation.
Calculating R&D tax relief varies for each company and depends on a variety of factors. Costs that could qualify include staff costs, contracting costs, software licences, and materials/consumables. Ensuring these calculations are correct is paramount to a successful R&D claim, and this is something Sleek can help with. Feel free to get in touch to clarify matters further.
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