SME's don't claim R&D Tax Credits for a variety of reasons

It is astounding that the vast majority (reportedly 95%) of SME's do not claim R&D Tax Credits and are missing out on large amounts of cash back. Here are six reasons why businesses fail to make a claim:

1. They do not understand what R&D Tax Credits are or think they are only about 'pure R&D' and do not apply to them
2. They are too busy with day-to-day running of the business to think about this benefit and think that it might be a lot of work for little return
3. They believe that they have a lack of eligible costs but don't really understand what qualifies for 'eligible'
4. They have used Grants or other funding and think that they are not entitled to these Tax Credits
5. They are making a loss and thin that they cannot apply for R&D Tax Credits
6. They do not know how to make a claim or who to go to

Many of the points above are Misconceptions or lack of understanding and lead to the majority of companies losing out.

If you would like to know more then please contact me and I will be delighted to help

https://paulgriffinconsulting.co.uk/rd-tax-credits-for-businesses/

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