How can R&D tax credits benefit your clients?

At Lime R&D, we provide a refreshing unique approach to research and development (R&D) tax credit claims. We are no ordinary tax consultancy – we are a firm of Chartered Tax Advisers who specialise exclusively in R&D tax credits. This level of specialism provides us with a more thorough understanding of the tax legislation, HMRC practice and how it could impact your clients’ businesses.

R&D tax credits are a valuable government tax incentive created to reward companies in all sectors who try to achieve something technically challenging. Their goal is to reward past and encourage future R&D spending, benefiting industry and the UK economy. They can reward profitable companies with a generous corporation tax deduction or provide loss making companies with a sizeable cash repayment.

More companies qualify for the relief than you may first think. You do not need to be in bright white lab coats undertaking cutting edge research to make a claim. This is the biggest misconception surrounding R&D tax credits. Your client would simply need to demonstrate that they have taken a risk by showing they faced challenges that required additional efforts to overcome.

How much are they worth?

The good news is that more and more companies are becoming aware of the scheme and are taking advantage of the significant cash benefits, producing a healthy set of statistics. In 2016, the average value of an SME claim stood just below £62,000 and the average large company claim at £348,000*. However, there is still a huge number of eligible companies not benefiting from the scheme who are missing out on the opportunity to reclaim tens of thousands of pounds in free cash each year. In addition, there remains an overconcentration of claims in companies based in London, the South East or the East of England (46% of all claims and 62% of the total amount claimed), where it is often much easier to obtain specialist R&D tax credit advice.

How can Lime R&D help?

The R&D tax credit claim process can be extremely complicated.

Working with us presents an opportunity for you to provide a high-value service, contributing to the growth of your clients’ business. All this can be achieved without increasing your costs or your workload.

Fee sharing opportunities

Working with Lime R&D provides you with the opportunity to earn up to 33% commission on any successful referrals.  This can be earned with no effort on your part – simply make the referral and we can take it from there.  It couldn’t be simpler.

 

* Source – HMRC R&D tax credit statistics published September 2017.

 

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