Many companies are already familiar with the concept of Research & Development Tax Credits, but may be unsure as to how to get these or even apply for them, and that can be a problem for industry.
The R & D tax Credit system was set up to help companies recoup some of the money that they might spend on research and development activities within their company, making the whole process much more attractive. The key benefits of the system are:
- A cash injection into your business. The credits provide an essential source of non-repayable funding for enterprises of all sizes.
- Creates global leaders. The Tax Credits are designed to put companies in the UK at the forefront of R&D and innovation around the world.
- Help boost essential innovation. Extra funding helps encourage businesses to invest in R&D activities and thereby innovation that helps the country.
- Promotes overall economic growth. It has been determined that for every £1 spent by companies on R&D delivers around £7 of net economic benefit to the UK, making it an essential exercise for the country’s expansion.
Plainly, the R&D Tax Credits is important to the continued growth of the country’s economic infrastructure, but it is equally as important that companies are able to easily access the system, and that is where many businesses are unsure. And because they are unsure of how or where to apply for them, in many cases, they don’t bother, and then miss out on funding that could either kick off their R & D activities, or push the research even further.
Actually, the best way for a company to apply for this valuable funding isn’t to do it themselves, but rather to go through a third party, and that is where R&D Tax Credit consultants come in.
R&D Tax Consultants are experts who are well-versed in helping companies make the most of getting these essential benefits, and can help guide a company through the process of applying for them. R & D Tax Credit Experts help companies apply for this extra funding and streamline the process so that the company doesn’t have any of the issues that normally arise when apply for grants and extra benefits.
And this is essential since, because R & D Tax Credits are subject to fairly stringent business criteria and to work through the process ideally takes and R & D expert who is well versed in this area of company finance. The R & D Tax Credits system is, like any Government sponsored fund, subject to detailed investigation of the company and the use to which the funds are intended to prevent any fraudulent activity, and that rigorous process puts many people off applying for them. But R & D Tax Advisors deal with these kinds of issues all day long, and are well-versed in ensuring that the company meets the criterial laid down by the Government, and are able to reap the most benefits from the system.
If you are part of an innovative company that is seeking extra funding, then contact your local R & D Tax Credits consultants. Simply put in an internet search for R & D Tax Consultant Leicester, and you will find the top advisors ready to help you get this essential extra funding.