How a loss making company can claim back tax that they haven’t even paid

It is a misconception that a company needs to have been paying Corporation tax in order to claim R&D tax credits and many companies are avoiding making claims because of this.

The rule is that a company submits a corporation tax return and that if they were to be profitable then they would have to pay tax on their profits, thus excluding some not for profit organisations for example who do not submit a corporation tax return

In fact the news is even better for the loss making company, they can in fact claim more from HMRC in the form of R&D tax credits. The company does have to be doing some sort of Research and Development and have take some form of financial risk either in staff time or by using external suppliers.

The sort of things could be

-       Development of a new app

-       Integrating a new software system and making it bespoke for the company

-       Manufacturing and designing a new product

So don’t miss out on money your business is entitled to.

We can tell within 15 minutes if you may have a claim contact [email protected]