Most Software companies don't know they are eligible for R&D Tax Credits !

There are many software businesses and organisations, especially SME's, that are blissfully unaware, or that think they do not qualify, for R&D Tax credits. Part of the problem is the image that 'R&D' conjures up of laboratories and people in white coats researching some new virus, chemical or similar. Another part of the problem is the lack of awareness of what constitutes qualification or eligibility to get tax rebates under this HMRC scheme.

The reality is that if your business is developing new or bespoking existing code, software, Apps or systems then you will be eligible to make a claim. Further, that you can go back for two accounting periods as well as the existing period.

To help give an indication of some of the areas that do qualify, as examples often help explain concepts, I have compiled a list below of some of the areas that are eligible. If you would like to know more then please send me a message on Linked In or through my website https://paulgriffinconsulting.co.uk/rd-tax-credits-for-businesses/

1) Previous improvements to any internal software processes, or hardware improvements.

2)Previous marketing or branding awareness plans.

3) Previous CRM or e-commerce improvement plans.

4) Previous or future improvements within the environment you are working in.

5) Manufacturing improvements or product development.

6) Improvements to your supply chain.

7) Improvements to your stock control system.

8) Improvements to your commercial premises to enable further process improvements.

9) Development of new software or systems to improve performance or efficiency

10) Innovative ideas on saving materials and reducing waste.