How R&D Tax Credits Can Help Your Startup Grow
Startups are defined by their growth rate. A relentless pursuit of immense scale is what sets a startup apart from an ordinary small business.
LinkedIn founder Reid Hoffman pointed out that companies can scale either by creating demand for their product (marketing) or by improving the product so that it organically generates its own demand (investing).
Investments in R&D can help any business - regardless of industry - streamline processes, enhance the supply chain, reduce costs, and eliminate waste from production. Successful R&D projects can help your team gain invaluable experience and create a competitive advantage that helps your business thrive in an interconnected global economy.
Successful innovation also has a lasting impact on the wider community. Users, employees, and government institutions benefit from innovative new techniques or new products. With this in mind, the British government has offered tax credits to offset corporate expenses of research and development.
R&D tax credits have been around since the early-2000’s and have managed to spur investments in long-term technical projects in industry. As a result, British businesses have filed more patent applications and developed more intellectual property than ever before.
With recent expansions to the program, claiming tax credits is easier than ever. Startups and SMEs benefit from Advanced Assurance and online platforms such as Tax Cloud make the claiming process faster and easier. With professional help, costs and tax liabilities are no longer a hurdle for companies trying to create value over a longer time frame.
The government’s tax credits program has helped British businesses take a long-term approach to product development and has helped them invest for the future by mitigating risks. A lower tax bill helps businesses of all sizes improve their profitability while creating enduring intellectual property that can benefit the economy for generations.
- Submitting R&D tax claims since 2001
- 100% success rate
- Over £100m claimed and counting
- Industry leading specialists
- In-house technical, costing and tax experts
- Member of the Research and Development Consultative (RDCC) committee
Meet some of the team behind Tax Cloud