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Springfords LLP blog

Some news, views and comments about everything and anything, relevant and irreverent.

The Monster of R&D Tax Relief

21 March 2016

If you’ve never heard of it, you’re not alone.  If you think you should have heard of it, you’re not alone either.  Free money for free thinking, or an initiative that leaves billions unclaimed in government coffers.  That’s a subject Springfords think worthy of research.

“It’s alive!  It’s alive!”  Would Mary Shelley or Dr Frankenstein be in the frame for the government sponsored Research and Development Tax Relief scheme?  Chances are, if they’re ethical, experimental, and economically beneficial, they probably would have a good shot at getting back the cost of body parts, operating slab, lab coats, electricity conductors for the lightening bolt, and even Egor’s wages - if he was properly contracted to rob graves for the business.  Ooh, thank you, master (insert your own sound effects here).

Got any brilliant ideas yourself that may or may not involve reincarnation and giving bolts some jolts from your experimental electrodes?  It’s probable that if you have the spark of an idea, it just needs a spot of development to bring to market. 

Good for you, but, if like the not-so-good doctor Frankie, you’ve plenty of ideas that actually need a huge amount of development to bring to market, we’ve something that the more modern Prometheus himself (George Osborne, not the Monster) has brought to the examination table.  This bright idea addresses the dilemma of R&D costs now and economic rewards later - an all too familiar impediment to British industry.  Maybe to your industry or business too.  Which is why you should do a spot of research into R&D Tax Relief.

It’s not new.  It’s been around since 2010, as an incentive to help British industry beat the world.  Basically, it’s cash back for spending on all those projects that will eventually put that cash back into the economy; boost your business; and make Britain great again.  Oh, and deliver truck loads of corporation tax down the line - but let’s not get quite that cynical just yet.

Plus it’s not just for the men in white suits either. All sorts of businesses are able to claim back some R&D tax reliefs.  You just need to prove that you are doing something new and unique - be that improving your production processes in a completely new way or creating a new product.

Now, we’re quite experimental here at Springfords too. We’ve been experimenting with the little known R&D Tax Relief for our clients.  It’s something we think you should try too. You may be surprised at the reaction.

Some sources say more than 30,000 companies have already successfully claimed this relief.  We didn’t help them all, but we’ve discretely helped many of our clients get their own boffin benefit (as we’ve just christened it).

It doesn’t matter whether you’re big or small, everyone is eligible.  Actually, it does matter - the smaller the better.  The government recognise the extra burden R&D represents for SMEs.

We’ve got the whole theory and practice here at Springfords, and applying is as easy as e=mc2.  We’re researching why it’s claimed a staggering £6 billion remains unclaimed - but, sadly, that sort of research isn’t eligible for relief. 
 
So, before you put in another late night in the laboratory, put in an early day call to us, and we’ll help you get the R&D Tax Relief your hard work deserves. 

Sorry, Frankie, we can’t help source illicit body parts. 


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springfords blog

Some news, views and comments about everything and anything, relevant and irreverent.

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