There are many great reasons to claim R&D Tax Credits. Here are three of the best.
Claiming R&D Tax Credits can seem like a lot of hassle. But with our help, you’ll find that the rewards more than make up for the work involved.
Here are three reasons you should consider claiming R&D tax relief.
Reason 1: it can take the risk out of risk-taking
Some of history’s greatest leaps forward have come from risk-taking.
In fact, it’s almost impossible to innovate without taking on a little risk.
After all, if a project is sure to succeed, can it really be innovative?
As Facebook founder Mark Zuckerberg once said, ‘In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks‘.
You’d be forgiven for thinking, ‘that’s all well and good for a multibillionaire like Mark Zuckerberg, but not all of us can afford to fail.’ And you’d be absolutely right.
Many companies are understandably risk-averse. Small, founder-funded startups particularly so.
But that’s where R&D Tax Credits come in.
The truth is that the UK government wants you to take risks.
They want the next big technological leap forward to take place in the United Kingdom. And they are willing to subsidise you as you work towards making it happen.
Remember, the eventual success or failure of a project doesn’t affect its eligibility for R&D tax relief. It only matters that you make an honest attempt to innovate.
R&D Tax Credits can take the risk out of risk-taking by providing the financial stability needed for true innovation to take place.
Reason 2: R&D Tax Credits are open to all types of business
A common misconception is that the only businesses eligible for R&D funding are high-tech companies working at the cutting edge of science.
As Mark Tighe from This is Money recently put it, ‘Research and development conjures up images of serious-looking men and women sporting white coats moving silently around austere laboratories.’
But nothing could be further from the truth.
In fact, it is estimated that 40% of all active UK businesses generate some form of innovation.
From food to transport, education to architecture, groundbreaking work is taking place across all sectors.
You don’t have to wear a white coat to be an innovator or to take advantage of R&D Tax Credits.
Reason 3: They could be worth a lot of money
R&D Tax Credits are not to be sniffed at, with the average claim being worth around £70,000.
With so much money at stake, it’s hard to believe that so few companies take advantage.
Some are unaware that they are eligible. Others are put off by the seemingly complicated applications process.
That’s where we come in.
GrantTree can assess your eligibility, work through your claim with you, and then take care of all the complicated aspects of the process, allowing you to get back to work as quickly as possible.
We can even advance you up to 80% of the value of your claim up to 6 months before you’ve filed.
There are many more reasons to claim R&D tax relief. In fact, it would be harder to come up with excuses not to!
We’ve raised over £200 million pounds for some of the UK’s most innovative companies, and we would love to add you to that list.
Get in touch today to get the process started.