Another Happy Client
April 14, 2022
Another happy client! Moving clients to a funder that will work with them and help them grow is extremely satisfying, and is what we do
Risk-free cash injection with research & development tax credits
What is it?
Research & Development (R&D) tax credits is a government led initiative designed to reward UK companies for investing in innovation and look to improve or overcome challenges or uncertainties which they face within their industries.
Administered by HMRC, it is an area often overlooked by accountants due to the specialism needed to build claims on behalf of clients and also to be able to maximise claim potential.
UCF have partnered with a Specialist R&D Tax Accountant who operate on a succession only basis. Meaning there are no upfront costs for you and you’re safe in the knowledge of having an expert by your side.
Who is Eligible? (a lot broader than you may think)
- UK based companies
- Limited and liable to pay corporation tax
- Seeking to overcome uncertainties within an industry
- Seek to improve processes, services, materials, devices
- Work requires trial and error to get to the end result
- Have you invested in failed projects or developed products that have never launched
- Employ technical staff
- Projects involve design and/or implementation
- There is a process in getting from A to B
Common Sectors (it’s not just the people in lab coats)
- Air Conditioning
- Agriculture
- Automotive
- Construction (Groundworks, civils)
- Commercial Refrigeration
- Demolition
- Drainage & Sewage
- Engineering
- Fabricators
- Fire and Security
- Flood Defence
- Food & Drink Production
- Hospitality
- IT & Software
- Marine
- Manufacturers
- Sciences
- Waste Disposal
What’s in it for you? (besides a risk-free cash injection)
- Claims completed within 6-8 weeks
- Either a complete or significant reduction in tax liabilities
- Companies can retrospectively claim two years
- Creates a more sustainable business model
- Possible further investment in innovation, staff, infrastructure, marketing, and recruitment
- Claims can be made even if you’re a loss-making business
- It can be claimed by an array of industries, not just scientists in labs
- No win no fee, fees are paid upon the success of a claim
- Does not interfere with other agreed or proposed lending products
What can be claimed…
- Staff costs (including employers pension and employers NI, but not benefits in kind)
- Externally provided workers, e.g. agency staff (up to 65%)
- Materials/consumables used directly in the R&D process
- Power, water, fuel used directly in the R&D process
- Computer software
- Subcontracted R&D costs can be claimed (up 65%)
- Wastage
How companies are categorised
SME’s
- Employ less than 500 staff
- Have either an annual turnover less than 100m euros or a balance sheet under 86m euros
SMEs can get back up to 33% of the amount they’ve spent on qualifying R&D.
RDEC (Research & Development Expenditure Credit)
- Employ over 500 staff
- Have turnover over 100m euros and more than 86m euros on the balance sheet
Large companies claim at around 10% and is shown as income on the balance sheet.
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