Webinar: R&D Tax Credits
During these challenging times, one of the best ways of helping your cash position is to reclaim tax you've already paid. As a highly generous form of tax relief, R&D Tax Credits can be one way of achieving this.
R&D Tax Credits are one of the UK's most generous corporation tax reliefs, but are still widely under-claimed due to common misconceptions, for example that R&D activities only qualify if they seek to completely revolutionise science and technology.
But actually, if your company is creating (or even modifying) a product, process or service while also overcoming scientific or technological challenges, then you could be entitled to a claim - even if the project itself is unsuccessful.
Could you be eligible for R&D Tax Credits?
Our webinar was led by Justine Dignam, Director at Markel Tax, and Zoe Barraclough, Senior R&D Consultant at Markel Tax. It was a very informative session, which examined the following:
- What are R&D Tax Credits and why are they important?
- Evaluating the eligibility criteria - can your business claim?
- How to maximise the opportunity if you are already claiming
- Qualifying expenditure - and the common misconceptions
- COVID-19's impact on R&D
- The implications of the 2021 Budget
Who should watch this?
If you can answer "yes" to any of the following, then you may have a potential R&D opportunity:
- Do you design and develop new products?
- Do you offer bespoke solutions to your customers?
- Do you seek to improve existing processes, services or products?
- Do you make prototypes or perform testing?
- Have you invested in bespoke internal IT systems?
- Have you invested in failed projects or developed products that have never launched?
- Do you employ any staff with a technical or scientific background?
If you are already claiming R&D tax relief, this webinar may also be of interest as we can easily check and ensure that you are maximising the qualifying expenditure.
Watch our webinar here
Click below to watch our webinar recording - we hope you find it useful. If you have any queries, we're here to help in any way, so please do not hesitate to get in touch with us. All our contact details can be found by clicking here.