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Research And Development Tax Credits Leeds

Find out more about this incentive here

Research And Development Tax Credits Leeds

Research and Development Tax Credits were introduced in 2000 as a government scheme, to reward UK Limited Companies by providing reductions or rebates of Corporation Tax for eligible activities.

Both profit and loss-making R&D projects are eligible for the incentive, so get in touch with us today to not miss out on potential thousands of pounds that could be re-invested into your business!

What Makes Us The Best Research And Development Tax Credits Consultants In Leeds?

Where do we start?

Our analysts and consultants know this incentive inside out, so there really isn’t a question they can’t answer. With 11+ years of experience, they really know their stuff by now.

Our average claim value is £55,000, so just imagine what this amount of money could do for your growth.

We don’t tie you into contracts. That’s right! With our 12 month rolling contracts you have the full control of whether you would like to continue working with us! But we are sure that after you’ve experienced our top service you wouldn’t want to go anywhere else in Leeds.

Cash flow issues? Do not worry, we won’t ask for our payment until HMRC have payed out your benefit!

Not enough? We also run a partner program, so if you know anyone who might be eligible to claim R&D Tax Credits we will give you a commission fee every year they stay with us!

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How Do I Apply For Research And Development Tax Credits?

  • Make sure you qualify first
  • Produce a technical report
  • Provide evidence and calculations to support your claim
  • OR contact tax specialists like ourselves who will take care of everything mentioned above
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What Costs Qualify For Research And Development Tax Credits?

  • Salaries and wages
  • Employer’s NI Contributions
  • Employer’s Pension Contributions
  • Materials and wastage consumed during the project
  • Prototypes created
  • Subcontractors’ invoices
  • Software licenses
Play Video

Research And Development Tax Credits Explained

In this video we give you a quick overview of what Research And Development Tax Credits are and what activity your company needs to be undertaking to qualify for the incentive

Why Choose Us

How Do I Work With Counting King?

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Discovery meeting

We will always conduct a discovery meeting to talk you through the incentive, explain our process, and establish whether your company carried out eligible research and development activity.

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Site visit

During the second stage, we will visit your site and conduct informal interviews with key personnel to gain a deeper understand of the business for the technical report. We will also ask for your up-to-date financial data for our in-house analysis.

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Benefit analysis

We will conduct our research and development benefit analysis, where we assess all eligible costs and calculate your maximum benefit.

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Submission

We will submit your claim to HMRC within 2 weeks of securing all completed documents. HMRC will process your payable credit claim and pay out the benefit within 28 days. In the case of HMRC requiring additional information, Counting King will oversee this process.

FAQ

Frequently asked questions.

Not to worry. We have perfected the craft of phone and zoom meetings, and we also have consultants based around the country so if you need a face to face meeting that can also be arranged! There really is nothing to worry about. 

  1. Creating new products, processes or services.
  2. Developing a prototype.
  3. Developing or improving existing software/prototype and/or service.

R&D Tax Credits stands for Research and Development. It is a government incentive that was introduced in 2000 by the government, to encourage companies to invest in Research and Development to stay competitive on the market. 

It allows companies to reduce their tax bill or claim payable cash credits that should be re-invested into Research and Development.

  1. By the HMRC definition, Research and Development activities that qualify must work towards the advancement of science or technology.
  2. This includes, but is not limited to: utilising technology, improving existing products, software advancement/development, integrating existing components in brand new solutions.

This depends on multiple factors. 

If you are claiming under the SME incentive, then you are eligible to claim anywhere between 15% and 33% for your qualifying costs. This is determined by factors such as turnover and staff count.

If you are a large company, then you will qualify under the RDEC scheme, and you’ll be able to claim 13% of your qualifying expenditure. This benefit will be in the form of tax credits. 

In theory, HMRC will process your Research and Development Tax Credits claim within 28 working days. However, this can vary based on peak periods, workloads and resource availability. 

If you decide to use Counting King for your Research and Development Tax Credits claim, we will submit all documentation to HMRC within 2 weeks of receiving all relevant information from you. 

You can claim Research and Development Tax Credits for up to 2 years after the accounting period has ended for the time it is associated with.

Download Our Infographic

Find out how simple it is to claim your R&D Tax Credits In Leeds

Counting king claim process outline
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Start Your Claim With Counting King Today!

Don’t hesitate on starting your claim, you could be entitled to money you didn’t realise you could have. With Counting King’s simple process you don’t need to worry about your time invested in the claim.

We have you covered!

Start your claim