"I think there is a world market for maybe five computers." - Thomas Watson, Chairman of IBM, in 1943.
IBM's outlook for research and development (R&D) has since moved on to prove that statement was on shaky ground. One fact is certain - IBM would never have evolved to be the company it is now without investing in the development of both new and existing technologies.
R&D Tax Relief, R&D Tax Credits, and the new R&D Expenditure Credit schemes are collectively the largest Government mechanism designed to deliver much-needed cash to industry, which is where LinkStep R&D Tax Services can help.
The executive team has been collectively involved in over £200million of R&D claims since 2002, a statistic not many competitors will have to their record. We also have international links to R&D firms in Europe, Australia and the US.
Having the right people to compile your claim ensures that you are accessing the full potential whilst also ensuring the claim is defensible against any HMRC enquiry.
The LinkStep team has worked on claims for small software development houses to large-scale manufacturers, soup development to F1 motorsport technology. It is fair to say that our expertise in the field of R&D tax is hard to match.
SME’s are now able to generate a cash injection from the Government of up to 30% of their qualifying development spend, delivered via a refund of Corporation Tax; a mechanism known as R&D Tax Relief. This rate will reduce to 28% after 1 April 2013, when the main rate of corporation tax reduces to 23%. Slightly reduced rates are available in the form of cash R&D Tax Credits for loss-making companies, but these are still significant cash results for companies in a loss-making position.
Large companies can now utilise ‘R&D Expenditure Credits’ to generate a taxable above-the-line credit of 10% of their qualifying development spend. Payable even in a loss-making position.
At LinkStep, our approach is to utilise a highly-skilled multi-disciplinary team that combines the specialisms of separate technology and financial analysts – an approach that is vital to submitting a valid and fully-optimised R&D claim.
LinkStep is structured to be able to help and be accessible to any business, regardless of its size – large, medium, small or micro.
We are offering ‘Big Four’ thinking, expertise, integrity, confidence and service, but with greater flexibility and at an affordable rate. This means that both SME and large companies can enjoy a full and dedicated service tailored to meet their requirements.
SaaS developers - read on...An SME software company wanted to develop its own product so that it could offer retail systems to its clients, this case study explores the potential of an R&D claim...
A large systems integrator was asked to develop a bespoke system for a large insurance company. Who can claim for what costs, and how much? What would it be worth?
HRMC have published some very interesting statistics about R&D claims made to the end of 2012. If you like your statistics, this article is for you...
R&D tax is here to stay, at least into the foreseeable future. When you consider the fuller picture, it is easy to conclude why it yields very positive results to businesses and the wider economy.