Innovation & R&D Taxes
We can help with:
- Research & Development (R&D) Tax Credits – UK & Ireland
- Grant Funding Applications – UK & Ireland
- Innovation Assessment of Projects
- Innovation Strategy
- R&D Record Keeping
- Patent Box - UK
- Knowledge Development Box – Ireland
Unlocking Research & Development Potential & Helping Innovative Businesses Grow
Innovation is a driving force for ambitious businesses, as it stimulates growth and improves productivity.
Research & Development (R&D) tax credits are the government’s generous incentive to encourage innovation and reward the time and investment businesses put into creating or improving products, processes or services. R&D can result in significant tax savings whether you are paying tax, loss making or in receipt of grant assistance towards R&D activities.
We have used FPM for the last 5 years to assist and submit our R&D Tax Credit schedules. An initially daunting task was made substantially easier by FPM’s professional input and the efficient manner in which schedules were reviewed and submitted. Our R&D activities are now streamlined which has allowed us to capture all qualifying R&D costs and enhance the R&D relief.
Since their introduction, billions have been claimed annually by UK and Irish companies and this has helped fund thousands of new ideas and products. However, many eligible businesses are put off by the Research & Development preconception and as a result are missing out on the opportunity to claim relief. More recently governing bodies, such as HMRC and the Revenue have tightened practice relating to R&D Tax Credits to target fraudsters and those making frivolous claims. This has made making a claim more involved and more time consuming but as long as your submission addresses the revised practice and complies with new legislation there remains plenty of opportunity to help fund your innovations.
MAXIMISING THE POTENTIAL OF YOUR CLAIM
From our years of experience, we have found that most businesses across the entire business spectrum are innovating and eligible for the R&D relief scheme. In simple terms, whatever your size or sector, if you have made changes in your business which took some thought, some time and some testing, it’s time to talk to us about R&D.
Our R&D Tax Credit specialists, led by Shane Martin, work with innovative companies in all industries across the UK and Ireland, and have created a slick and quick process to ensure our clients achieve the maximum benefit from their innovation activity, every time! We’re proud of our 100% success rate on claims submitted.
Whether you are thinking of making a claim for the first time or are reviewing your existing position in the light of the new rules, we can help. Built around a team of scientists, technologists and engineers supported by financial experts, we understand raw R&D. And as part of a major Chartered Accountancy group, we have the presence to ensure that your R&D Tax claim is credible, defendable and treated seriously.
FPM work alongside industry experts and liaise with HMRC and the Revenue Commissioners on a daily basis, which means we are readily placed to assist you across a wide range of areas including:
- Identifying activities which qualify for relief
- Establishing the eligible expenditure
- Analysing and mitigating the impact of grants
- Preparing a robust claim and the supporting documentation
Our expertise and advice has helped clients pay for new equipment, new buildings, team expansion or even their other accountancy fees! All in all, by bring our client’s ideas to life, it helps to keep businesses growing, innovating and moving forward.
LISTEN TO OUR CLIENT'S EXPERIENCE...
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