Research & Development (R&D) Relief is form of tax credit to reward businesses that invest in innovation through scientific and technological advancement. However, 80% of companies eligible for this relief don’t make a claim, mainly because they do not believe they qualify.
We recently helped our client Midland Medical Services, who had previously been sceptical about claiming research & development relief, receive £76,815 in tax credits for the last two financial years.
Our client’s journey
Our expert consultant Mike advised our client, Midland Medical Services, that he believed he could help them claim research & development tax credits.
Our client had been approached previously by another business about claiming R&D tax relief and had decided not to go forward with a claim. This time, however, their strong relationship with Mike encouraged them to take the leap.
Mike worked with our client to identify any qualifying activities and costs. He then submitted their report to HMRC, amended their corporation tax return and liaised with HMRC on the client’s behalf.
By trusting Innovation 4 Business to make their claim, the client received a cheque for £76,815 in tax credits!
Making future claims
Midland Medical Services have recently been involved in significant design work for the Nightingale hospital at the NEC in Birmingham. This included building the bedhead services to support the government’s response to the pandemic.
Following the client’s successful claim, Midland Medical Services plan to work with Innovation 4 Business on future R&D tax credit claims. We look forward to helping our client reduce their corporation tax liability with this relief.
Does my company qualify for R&D relief?
Has your business invested in creating new products, processes or services or are you making any modifications to existing ones? If so, you may be eligible for research and development relief.
If your application for R&D relief is successful, the money received will allow your company to continue funding innovation. This helps in enabling your company to continue to grow and invest in innovative projects. Even if your project is unsuccessful, you may still qualify!
Innovation 4 Business
Our expert team are experienced in claiming back huge tax credits for a range of different clients and companies. This includes Blucon Group, who we helped claim R&D tax relief, receiving around £235,000 in tax credits. Get in touch with our expert team to find out if your company qualifies by calling 0121 309 0222 or emailing firstname.lastname@example.org.