R&D tax credits one of the most under claimed tax benefits that can result in money in the bank in weeks.
The IoD West Midlands was delighted to partner with Paul Wood, MD of Woodshire Business Solutions, tax consultants specialising in HMRC tax allowances, who presented a webinar which provided an appreciation of the qualifying process of R&D tax credits.
Research and Development for businesses can be attributed to many activities. Significantly it is usually part of what a business does day to day. To put it simply if your business has a new or existing product, idea or system that you are developing or adapting then the time and costs incurred could qualify for the R&D Tax Credit.
The credit gives an additional uplift of 125% of all relevant costs to offset against your companies tax position. It can be surrendered for cash, even for a loss making business. The average refund is well in excess of £50,000 and does not affect the profit and loss position of your business.
Watch the Webinar Password: 4o#06l2V