But how can you make R&D tax credits work harder for you AND maximise the benefit?
Ok, so there is one obvious way that you can use R&D tax credits to make money, and that is to submit a claim! You’ve ticked that box already? Well done! You’re on your way to unearthing a potential juicy nest egg to help grow your business.
Here are our six top tips:
1. Your first claim is just the start. As your R&D continues you can keep claiming year on year. Ker-ching!
2. You can take the initial funding boost from your first claim and re-invest in your R&D, leading to bigger and better projects. World domination awaits.
3. You can use the next funding boost to purchase new, sophisticated equipment to enable even more R&D. You’re going to be busy!
4. And the payback after that could be used to employ more research staff. It’s a nice feeling isn’t it?
5. By continuing to reinvest your tax credits in innovation, you could boost your claim sizes year on year, develop your company’s R&D and improve your overall financial situation. Big smiles all round.
6. Finally, seek advice from an R&D tax credit expert who can ensure you submit a robust and maximised claim every time. You know it makes good sense…
