Calling all owners of innovative UK business
On Tuesday 22nd October Simon Eggleton gave us all an insightful presentation of his work with Jumpstart, the UK’s leading R&D Tax Credit specialists.
1. Why do we get R&D Tax Credits?
- Research and Development linked to GDP.
- Governments recognise the need to incentivise companies to undertake R&D.
- Introduced into the UK in 2000.
- Started in Canada in 1986.
- Is in 42 countries around the world.
- Recently extended to make SME scheme more generous.
2. What is HMRC’s R&D Tax Credit Scheme?
- SME scheme
- <100m Euros and <500 employees.
- 75%, 100% & 125% enhancement in eligible expenditure.
- Can claim for two prior years.
- Large company scheme
- >100m Euros or >500 employees.
- 30% enhancement in eligible expenditure.
- Can claim for two prior years.
3. How does it work for a SME?
4. What sorts of projects are eligible?
The chart above indicates how HMRC determines whether a project is routine and therefore not eligible – or advancing science or technology and therefore likely to be eligible.
5. The Jumpstart track record.
- Have completed thousands of claims.
- Largest single applicant in the UK.
- Have a 98.6% record.
- Employ technical staff usually PhD.
- Work with every size of company from 10 employees to 6000.
- Achieve an average of 3.9 times what a purely financial submission will achieve.
Collaborative approach with HMRC
If you would like to find out more, please contact Simon via e-mail on simon.eggleton@jumpstartuk.co.uk or telephone on 01753 481659.
You can also find out more about Jumpstart by clicking on the links below:
Simon laid out so clearly what seems to be a great opportunity for companies to generate some extra benefit from their R&D activity.
This is the kind of thing that UK Ltd needs!
Too true Paul.
It struck a chord with me when Simon, mentioned he had worked with a number of web and software development companies and that, as we all automatically think… “Research and Development isn’t just people walking around with teat pipettes in white coats!”
I would urge anyone at the forefront of their industry to take advantage of a free consultation with Simon… It could REALLY help your profitability!