Innovative small businesses are receiving an average £46,000 cash back from HMRC, for their development work. 13,000 companies gained this cash benefit last year, but hundreds of thousands are missing out. Find out if you are eligible.
37. It doesn’t matter
Either way the government
have come up with a
scheme to reward business
owners like you.
38. It doesn’t matter
Either way the government
have come up with a
scheme to reward business
owners like you.
It’s just that they keep
forgetting to tell people
about it (bless ‘em).
39.
40. If you can tick all five boxes you could be eligible
41. If you can tick all five boxes you could be eligible
1. I have a limited company based in the UK
42. If you can tick all five boxes you could be eligible
1. I have a limited company based in the UK
2. I’ve been trading for at least a year
43. If you can tick all five boxes you could be eligible
1. I have a limited company based in the UK
2. I’ve been trading for at least a year
3. I employ less than 500 people
44. If you can tick all five boxes you could be eligible
1. I have a limited company based in the UK
2. I’ve been trading for at least a year
3. I employ less than 500 people
4. My turnover is less than £85 million a year
45. If you can tick all five boxes you could be eligible
1. I have a limited company based in the UK
2. I’ve been trading for at least a year
3. I employ less than 500 people
4. My turnover is less than £85 million a year
5. I’m working on something new and different and I’m
pretty sure my competitors would steal it if they could
48. How does this work????
You need to take me through it
49.
50. 1. If you can tick all
5 boxes, we need a
10 minute phone
call to see if you
meet all the other
criteria.
51.
52. 2. If you don’t,
you haven’t lost
anything. If you
do, we need to
book a longer
phone call (or a
visit), with one
of your
development
people.
53. 2. If you don’t,
you haven’t lost
anything. If you
do, we need to
book a longer
phone call (or a
visit), with one
of your
development
people.
Our technical
guys need to
understand your
innovation in
detail. This
usually takes an
hour or two.
56. 3. We then
write a
thorough
report for
HMRC
explaining
how you
meet the
relevant
legislation.
This is 80%
of the work
involved.
57.
58. 4. After that, we work out the money
and resources you’ve already spent on
all this development stuff.
59.
60. 5. We work with
your accountant
to fill in the right
forms and then
submit the claim
to HMRC.
61.
62. 6. If all goes well, you usually get a cash payment of around 25%
of your development costs in 4 to 6 weeks.
63. 6. If all goes well, you usually get a cash payment of around 25%
of your development costs in 4 to 6 weeks.
So if you spent £184,000
on salaries and other eligible
development costs over the last
two years, you should get back . . .
