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We do Tax Planning.

We do Xero.

We do R&D Tax Credits.

We do HMRC Investigations.

We do Capital Gains Tax.

We do Business Restructuring.

We do Numbers.

TaxQube™

R&D Grant Funding

Receive an extra £60,000 avg to invest in your business every year. Specialist advisors to maximise your claim and get you more money.

Save thousands of pounds in Tax | Professional unbiased advice.

Generate Cash & Hire more people

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.

Boost your profitability Targets 

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.

Let’s keep it simple

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 help UK companies access millions of pounds of government money to drive innovation in the UK

According to HMRC, £26.9 billion has been paid out to UK Limited companies.

Click here for the official report

1. Meet

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.

Tax Qube R&D Tax CreditsMeet RD

2. Discuss

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.

Tax Qube R&D Tax Credits Discuss RD

3. Receive

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.

Tax Qube R&D Tax Credits receiveRD

Do you have a question?

Our technical team respond to all queries within 48 hours.

Why it’s important to use a Specialist?

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.

Understanding R&D Tax Credits

Innovation | Refunds | Growth

Understanding R&D Tax Credits and Relief

Most companies assume they’re not eligible for R&D tax credits

Research and Development Tax Credits.

taxqube What are R&D tax credits?

Research and Development Tax Credits are a UK tax incentive scheme created by the UK government to encourage companies to invest in R&D. Companies can lower their tax bill or claim cash back as a proportion of their R&D expenditure.

Most eligible companies think that they don’t qualify for tax credits as the word “R&D” is generally associated with people in white coats. However, in reality, the rules are much more relaxed and we have seen qualifying problem solving in almost every industry.

taxqube Is my business eligible for R&D tax credits?

1. Be a limited company in the UK that is subject to Corporation Tax.

2. Have carried out qualifying research and development activities.

3. Have spent money on these projects.

taxqube How do R&D tax credits work?

Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for R&D tax relief. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment and/or Corporation Tax reduction.

The expertise of an R&D professional is in the ability to identify qualifying activities by talking to you. R&D exists in every single sector, however it does need technically skilled people to identify and maximise your claim. And if you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods.

taxqube How much can I get from HMRC?

Depending on your company’s profitability the credit is paid as follows:

Profit making company: For every £1 spent on qualifying expenses, HMRC give a credit of 24.7p

Loss making company: For every £1 spent on qualifying expenses, HMRC give a credit of 33.3p

In other words, if something is costing you £100, you can get back either 25% or 33% of that expense back from HMRC. Therefore, after HMRC’s credit you are effectively paying less in expenses.

You can use our R&D tax credits calculator below to get an estimate of how much you can get back from HMRC.

taxqube Can I claim R&D tax credits as a sub contractor?

Dealing with subcontracting is a complex area. However, you can still make an R&D tax claim. You can claim 65% of the payments made to the subcontractor unless you’re part of the same group.

We also consider the following factors:

  • Contract details
  • Who is undertaking the risk and uncertainty  

If you are unsure about whether your sub-contractor cost qualifies for the relief, you can contact us and we’ll be happy to check this for you.

taxqube Can sole-traders and charities claim R&D tax credits?

No, only UK registered limited companies can claim. If you think you are likely to be eligible in the future, we recommend switching to a limited company to protect your future eligibility position.

Past eligible activities are unfortunately non-claimable.

taxqube Do grants affect R&D tax credits?

You can still claim however, it is possible that you are required to claim under the RDEC scheme (Research and Development Expenditure Credits) which is otherwise known as the large company R&D scheme.

taxqube Can I refer business to you?

Yes, you can. Please complete the contact form on the website and ask for our introducers’ agreement.

taxqube Can I backdate R&D tax credits claim?

Yes, you go back up to two accounting periods. Any eligible projects prior to that period are non-claimable.

taxqube Can I claim R&D tax credits on failed and unsuccessful projects?

Absolutely, R&D tax credits are payable regardless of whether a project is successful or not. It is a common misunderstanding that R&D is only payable on successful projects.

taxqube Can I claim R&D tax credits on unfinished and incomplete projects?

Yes, projects that stretch over a number of accounting periods can be claimed in all of those accounting periods as long as the risk is still associated with the project.

We mark projects as “ongoing” in our reports to HMRC until they are finished or the risk disappears.

taxqube Do overseas projects qualify for R&D tax credits?

Yes, you can claim R&D tax credits on overseas projects. The location of the project is not a factor considered to establish eligibility to R&D tax credits.

It is important to understand the company must be subject to UK corporation tax. Overseas expenses linked to R&D eligible project are included in the claim.

taxqube What expenses cannot be claimed for R&D tax credits?

The following expenses are not eligible for R&D tax credits:

  • Capital expenditure
  • The cost of patents and trademarks
  • Rent or rates
  • Bulk production and distribution of products and services

taxqube How the R&D tax credits claim is submitted to HMRC?

The claim is submitted to HMRC along with the company’s corporation tax return. If you have already submitted the return, we can amend it to include the R&D claim.

We have simplified the R&D process for our clients. We always prefer to meet where possible and put you through a refined process to identify and claim R&D tax credits.

 

R&D Tax Credits Calculator

Innovation | Refunds | Growth

In our experience companies that submit their R&D tax relief claims themselves, or through a non-specialist accountancy firm, often end up significantly under-claiming.

This R&D tax credits calculator only gives a rough estimate of the potential corporation tax relief that you may be eligible to claim.

Profit Making Loss Making
£100,000 £200,000 £300,000
£20,000 £30,000 £40,000
£50,000 £100,000 £150,000

Result

Your estimated corporation tax saving or R&D tax credit payable.

Why not find out exactly how much you can get back from HMRC, contact us and we’ll even offer you free consultation.

Your estimated corporation tax saving or R&D tax credit payable.

Why not find out exactly how much you can get back from HMRC, contact us and we’ll even offer you free consultation.

Testimonials

Supreme protection

“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

desk gear

DeskGear

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

Confidential

“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

Our technical team is here to help you.

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