An area where a considerable number of companies are missing out is Research and Development (‘R & D’). There are potentially significant tax savings available if R&D expenditure is identified and appropriate claims made to HM Revenue & Customs. In many cases, an additional uplift on taxallowable R & D expenditure of 125% (130% from 1 April 2015) can be claimed. R&D is not just confined to the laboratory and men in white coats; on the contrary, working with you, you will find that R&D occurs as part of the work you already perform on a day to day basis. Zak Parnetship are R and D Tax Specialists.
We can submit claims for local companies saving corporation tax and can also produce back dated claims in order to generate cash repayments. We can secure cash refunds in the region of £50-200k per annum.
Why has my accountant not mentioned this before? This relief is not automatically given by HM Revenue & Customs and a report is required in order to gain the relief. As such many accountants have stayed clear of this significant relief due to lack of expertise in this field.
What costs qualify?
- Staff costs
- Subcontractor payments
Example R&D Sectors
- Engineering and Electronics
- Injection Moulding
- Life Sciences
Expertise & Experience
We have experienced r and d tax specialists who in the last 12 months alone have successfully claimed substantial tax deductions for our clients.