To stimulate economic growth and investment in R&D, therefore increasing tax revenue. HMRC have calculated for every £1 they give to companies investing in Research and Development, they will indirectly receive between £1.53 to 2.35 in tax revenue. It benefits the economy and makes sound economic sense.
Yes, you can. However, 50% of self-submitted claims are rejected by HMRC and without detailed knowledge of the scheme, you may miss substantial amounts of qualifying expenditure or indeed claim for items that fall outside of the scheme that may jeopardise the whole of your claim.
Companies from most industry sectors have made successful recoveries. Providing you are a UK Ltd company and are fixing a problem in a novel way, you’re likely eligible.
No. Our fee is 6.25% of the qualifying expenditure, fully contingent on the success of the claim. You only pay us after HMRC have approved and paid your claim. Your recovery however is based on Enhanced Qualifying Expenditure.
No. We have never had a claim rejected, but in the highly unlikely event you would not have to pay us 1 penny. Our fee is fully contingent on the success of the claim.
Breakthrough Associates is built around business people. We approach R&D Tax Credits differently. Where many accountants will start by looking at the numbers, and many of our competitors will focus on the detailed technical aspects of highly specific projects, we take a step back to fully understand your business as a whole. By investing time to visit you at your premises and taking a holistic view of your operations, we believe we recover the everything that is available under the scheme and deliver our clients the best results NET of our fees. Do not be misled by offers of ‘cheap’ R&D services!
Yes of course, though you may risk missing out on substantial amounts of qualifying expenditure. We are specialists in the scheme and have invested in our deep understanding of the SME scheme. We will not miss expenditure that qualifies as R&D. Even though R&D is related to tax, the technical justification and application of the rules requires specialist knowledge. We normally engage with YOUR accountant to make the final submission to HMRC. We see YOUR accountant as part of the process, but not the leader of it.
Not for profitable companies, but there are thresholds for loss making businesses that surrender their losses for a cash recovery.
You can revisit the last two financial years. Your financial year end is a critical date. If your year end is approaching in the next 3 months, you risk losing an average of £73,500 or maybe more if you miss the cut off. No matter how short notice, we will work around the clock to ensure you do not miss out on your recovery. On one occasion we turned an urgent report and submission around in 48 hours, but PLEASE try to give us 4 weeks!
Our specialists understand the scheme in its entirety and will help you to establish whether you have an eligible R&D claim. If you are eligible, we will manage your R&D recovery and ensure all eligible costs are included.
Are you doing something faster, cheaper, more efficiently, ‘free from’? Would your competitors like to steal what you do? If you’re working on something new, solving a problem in a unique way, or overcoming a challenge that you didn’t initially know how to overcome, you’re almost certainly doing R&D.
HMRC endeavour to settle most claims in approx. 28 days following submission, although this can take longer if a claim is not well presented and supported.
It depends on your enhanced qualifying expenditure and your tax position. Companies can expect to receive between 14.5% and 33% of their qualifying expenditure in either tax benefit or credit. 90% of companies receive between 24-26% of their qualifying expenditure back.
Yes, you probably are! Using our process, we will work with you to evaluate your R&D spend in the most accurate way possible. Our methodology of estimating expenditure is accepted by HMRC.
No. Our normal contract is for historical claim plus the current year.
HMRC will investigate claims that do not seem reasonable. As R&D experts, we know exactly what qualifies under the scheme and what does not. We will stand behind any of our claims. We have never been subject to an enquiry.