Many of our clients run innovative business that are pushing the boundaries of their fields with products and services built on cutting-edge technology.
Such companies, in most cases, can largely benefit from R&D tax reliefs, recovering significant percentages of their investment.
On average, companies that work on R&D projects claim 46 thousand pounds each year as tax reliefs, as a support from the government to innovative science and tech businesses.
These reliefs are available both as 46% of your R&D spend off your Corporation Tax payable, or as 33% cash back.
Here at Ignition, we helped more than XX companies get this type of funding for their R&D projects.
In order to be eligible, you need to show how your project tried to overcome an uncertainty while looking for an advance in science and technology that couldn’t be easily worked out by a professional in the field.
The allowable expenditure includes staff costs, subcontractors and freelancers you hired for the project completion as well as consumable items you used.
You can book a free consultancy with Ignition to learn more about how much spend, depending on your project, you can claim R&D reliefs for.