December 12th, 2019

The Jonathan Ford & Co Advent Calendar – Day 12


Over the course of the festive season we’ll be bringing you an advent calendar’s worth of tax and financial tips.  Some of them might even be a little Christmassy!  Day 12 brings a hefty chunk of tax relief for innovators in the form of…

R&D tax credits

Did you know that companies pushing the boundaries of scientific and technological knowledge can claim some really generous tax reliefs?

If you’ve overcome, or are attempting to overcome, a generally accepted scientific or technological uncertainty then you’re likely to qualify for the relief.  Think along the lines of, “Am I doing something unconventional or different to everybody else?”  The sort of activities that can qualify are wide-ranging and includes taking existing products, systems or processes and making them more efficient or commercially viable.

The benefit to you will range from 19p to 33p for each £1 of qualifying expenditure you incur in carrying out research and development.  In some cases, you may even qualify to receive a cash tax credit from HMRC.  Qualifying expenditure includes salaries, subcontracted R&D, utilities, materials, software licences, and testing and trialling costs.

So far we’ve helped our clients benefit from R&D relief to the tune of over £1.5 million in areas as diverse as telematic boxes to tidal prediction technology to cloud platforms and big data.

We’ve prepared some R&D frequently asked questions, so if you would like some further reading they can be found here.  Or alternatively, get in touch!

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John manages a wide portfolio of owner managed businesses and oversees the smooth operation of the firm’s payroll department.

After obtaining his degree in mathematics from the University of Liverpool, John joined Jonathan Ford & Co in 2004 and qualified as a chartered accountant four years later. John likes to keep abreast of developments in tax and accounting and is responsible for the mentoring of junior staff.

Outside of work, John enjoys powerlifting and is a Liverpool FC season ticket holder.

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