Right now, the government is throwing a lot of money at business owners. Money to help them survive these incredibly difficult times. But in most cases, all this money will eventually need to be paid back. It’s hard to estimate just how long it’s going to take for businesses to get their hands on these critical funds.
But as their advisors, there are other options for you to share with your clients, and one that is massively underused by so many businesses: that’s R&D Tax Relief.
You’ve no doubt investigated this relief previously, but business activities can and do change…..a lot. R&D could be a very real lifeline for some clients right now, to get money back into their business. If you can find R&D Tax Relief for a client, you could save their business.
And, even for those clients who already claim, there are steps that could mean more funds are identified, or advanced funding brought in.
For your clients, this is far better than loans hanging over their heads. It’s just money that belongs to them anyway.
We understand that without a specialist hat on, R&D Tax Relief can be time consuming to navigate. It can also be all too easy to rule a client out. It’s not that black and white though. Businesses across any industry can absolutely be eligible to make a claim, you’ve just got to know what to look for.
So, we’ve done something to help.
To give you autonomy to identify clients who might be eligible, we’ve split the it into two steps:
STEP 1 – The Business Activities
You know your clients and their business activities, so it makes sense for you to determine what they are doing and whether they meet the foundation criteria.
View infographic: Are your clients eligible for R&D Tax Relief?
STEP 2 – Science & Technology
Then, in a 15-minute call with us & the client, we’ll determine: whether the business activities fall into science & technology (this is the bit that can be difficult to determine), what exactly qualifies and what doesn’t within the claim, and, the size of the claim.
To get you started, we’ve created a toolkit of resources to use with your clients to help reach out about R&D Tax Relief and determine if they are eligible.
At the moment this toolkit is reserved for Radish and Diagnostax customers but do drop us an email at email@example.com if you’re interested in downloading the toolkit.