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Why hasn’t my accountant mentioned R&D Tax Credits?

04 Nov 2018

The simple answer to this is that, even though a claim for R&D Tax Credits would generally be filed by your accountant as part of your annual tax return, your accountant is often not the best person to spot your potential eligibility.

R&D Tax Credits are open to a wider number of industries than many people think but there are specific guidelines on what kind of work would count as qualifying R&D activity and your accountant probably won’t be aware of the work you are doing which may meet this criteria.

You are experts in your industry, accountants are great with numbers but spotting the potential for an R&D claim lies somewhere in between the two and can often fall through the gap.

We suggest that any company from the industries listed below check into R&D Tax Credits.  A quick call should be all you need to decide whether it’s something you want to look into further.  It may be that your company is not eligible but to make an informed decision, you need to have the facts to hand.

Common industries claiming R&D Tax Credits:

  • Manufacturing
  • Software Development
  • Recycling
  • Food & Drink
  • Precision Engineering
  • Construction
  • Architecture

It may be that your company is not eligible now but who knows what you will be doing in the future and claiming R&D Tax Credits is much easier if you plan for it from the start of a project.

If you are a company owner/decision maker and have any questions about R&D Tax Credits or how they could benefit your company, please get in touch via our Contact Us page.

If you are an accountant and want to talk about how you can ensure your clients are well provided for in terms of R&D Tax Credits, please get in touch via our Contact Us page.

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