Assistance with R&D Tax Credits
Have you considered whether your project could qualify for R&D Tax Credits? This valuable incentive can help to reduce the overall cost of working with the University and potentially many other costs you may be incurring as part of your project. The cash benefits currently range from 7.5% of qualifying expenditure for large companies up to 24% for loss-making SMEs, providing valuable cash flow. A number of criteria apply, such as the nature of the project meeting the definition used for tax purposes, and the IP ownership position. Making claims for R&D tax-credits requires a specialist set of skills not normally available as part of standard accounting services. The R&D tax credits system is different to anything else in tax – not only is it a highly specialised area of tax in its own right, it’s also a relief that depends on scientific and technological criteria so it can't be dealt with by an accountant working in isolation. With this in mind, the University is working with a range of specialist advisors in this area. One such independent specialist in this area is Pronovotech, who can provide all forms of services from advice on specific aspects of the scheme to turnkey management of the entire claim process. Their approach to R&D tax credit claims is based on understanding the technology as well as the detailed tax rules, resulting in quality claims for an optimum outcome. For further information on R&D tax credits, the services Pronovotech offer and contact details, visit their website at www.pronovotech.com.