Research and Development Tax Credits are a UK tax incentive scheme created by the UK government to encourage companies to invest in R&D. Our clients can lower their tax bill or claim cash back as a proportion of their R&D expenditure.
If your company is creating new products, new processes/services or modifying existing products to improve performance there is a good chance that your company qualifies for R&D tax credits. R&D can take place in any sector regardless of the company size. It could be in everything from a bakery to a chemical engineering company, construction to software development.
Our team have claimed over £12M in R&D across a number of industries. TaxQube started its operations to support accountancy firms to deal with various assignments including R&D tax credits. TaxQube utilises skilled specialists from diverse backgrounds to provide scientific knowledge. Our core team of technical staff members have a wealth of knowledge in R&D Tax credits. The majority of our staff members are trained by UK’s leading accountancy firms.
We work on a no win no fee basis and only charge you when the claim is fully approved by HMRC. Over the years we have fine tuned our claims process to quickly identify qualifying activities and complete the job within days not weeks unless there are circumstances outside of our control. Even if you are already claiming, we are able to improve the process. Book your free consultation with us.
We know that a lot of businesses find R&D tax credits too complicated. It’s not rocket science and certainly not limited to scientists. We’ve helped companies to understand how this legislation could be applied to their work and it is probably the best way to generate extra cash that you won’t have to pay back.
Let’s start with a simple conversation (1) You have made changes/updates to your product and processes. (2) The changes you have made weren’t too obvious, you weren’t sure about whether or not they were going to work.
Don’t like numbers? No problem. Just introduce us to your accountants and we will request the required information.
Get in touch today for a free consultation. Even when you sign up, it won’t cost you anything, it is no-win no-fee.
We understand that every business is different and therefore, requires a bespoke methodology that works for them. We meet/Zoom meetings with the company directors and the technical team (where applicable) to gather information and prepare a brief summary of what we identify as eligible R&D.
Without any upfront fee, at this stage of the process, we also get the letter of engagement signed by the company director to complete the formal appointment.
Now we want to know more about the points we identified during the first stage. We will ask you more questions about the project and check it against the legislation. Don’t worry, we don’t speak the legal language but it is important to make sure that we are satisfied with the project to ensure eligibility to R&D funding.
Do you know that we have a success rate of 100% and we will tell you if we conclude that you don’t qualify for the relief. We look beyond the obvious R&D projects to fully maximise your R&D claim. Once the claim is ready, we work with your finance team to make a submission to HMRC.
We deal with HMRC on your behalf and answer their questions. Once approved, we receive the credits from HMRC in three to six weeks on behalf of your limited company. We pay funds into your company’s bank account on the same day.
If your company is profitable, your overall Corporation Tax bill will be reduced, or if you had already paid your bill for the period, you will receive a repayment in cash. If your company had made a loss for the period, a cash benefit can be obtained.
Every industry is different and to get the best value, it is important to work with someone who knows your industry. We understand and deal with a range of industries that enables us to quickly understand your requirements and deliver solutions. Have a look at our industry specialism from the main menu.
We use tools such as Xero and Quickbooks to automate process. Contact us for a free account review. We manage cloud accounting systems on behalf of a number of companies and help them to extract the best value from these systems.
To boost cash flow for our clients, we prepare high-quality R&D technical reports to support every claim submitted by us. We also provide professional representation from start to finish to deal with HMRC on your behalf.
“We were with a different R&D supplier when TaxQube approached us. These guys really work hard to understand your business activities and ask questions until its fully understood. Result of their rigorous process? A solid R&D report for HMRC to verify your claim. The report is quite informative so even if you get questioned by HMRC in the future, you can defend your position.
Apart from that, highly professional in their approach and technically astute. We were impressed by how much they knew about IT when they worked with our developer”
Kash from Supreme protection
“We arrived back in the UK from Florida late yesterday. Many thanks to you and your team for an efficient, friendly and professional service. I will keep in touch”
Peter from Desk Gear
“We can’t believe how much R&D was done by our company, we hadn’t spotted these activities as R&D eligible. We do problem solving all day based on client requirements, we even maintain a variation log that is pretty much used in every project.
It has been a huge learning curve for us to understand R&D and now we know what to look for. The R&D team was proactive and knowledgeable when they met with our project directors. We would highly recommend for companies who want to claim.”
Ed from a construction company (40M+turnover) based in London