Member Article

R&D Tax Relief. Are you entitled?

Tondano Consulting Limited a business development consultancy based in Newcastle has teamed up with expert organisation RD Tax Solutions to help Small and Medium Sized Businesses in the North East claim tax rebates and allowances they may be entitled to under R&D Tax Relief.

According to figures released by HMRC less than one percent of companies entitled to claim this valuable tax incentive are claiming and billions of pounds set aside for the purpose is just going back into Government coffers.

R&D Tax Relief is a Government initiative set up to incentivise companies who invest in this area of their business. “But many companies are simply not aware of the scheme, or they believe investments made in these areas will not qualify,” says Rob Morgan, owner and Director of Tondano. “There is a view that to qualify you need to be using boffins in labcoats but this is simply not the case.”

Many different types of expenditure may qualify, for example:

• Development of new products, devices or equipment,
• Improving existing processes or developing new ones,
• Change Management or Business re-engineering
• Development of new or existing IT platforms (e.g. CRM systems)
• Development of new or enhanced service offerings
• Project development of new and existing services

€‹“Companies can claim for staff costs, software, utility costs and any sub-contracted work and materials,” continued Morgan. “With an average claim in excess of £40,000 for SME businesses it is well worth finding out if you are entitled to make a claim.”

RD Tax Solutions have unrivalled experience in assessing, preparing and processing claims on behalf of qualifying SMEs. They have processed more than 1700 claims since they were formed in 2014 and have secured relief in excess of £68,000,000 on behalf of their clients. And its risk free for companies to find out whether they have a claim as RD Tax Solutions only take a fee where a claim is submitted and approved by HMRC.

For further information go to http://tondano.co.uk/rdtax or contact Rob Morgan at rob.morgan.tondano.co.uk

This was posted in Bdaily's Members' News section by Rob Morgan .