The government’s R&D tax credits scheme could be an effective launchpad for your innovative new business. And in today’s hyper-competitive world, this could make all the difference. This is how to use the government’s R&D tax credits scheme to benefit your business.
Innovation is one of the few ways a startup can truly stand out from the crowd. Clever products, better techniques, smarter delivery and unique services can all provide a useful edge over experienced, well-funded rivals.
Take Silicon Valley, where a combination of innovation and risk-taking has helped companies extend their reach around the globe. To stake a claim in their industry before well-funded competitors soak up the market share, British startups must adopt a similar mindset.
The UK government knows only too well that innovation helps local startups survive. It has, since 2000, directly incentivised innovation in the British economy through specialised tax credits.
The government’s R&D tax credits scheme is far from complicated. However, lack of awareness and a number of misconceptions mean many businesses haven’t sought claims under the program.
If you’re the founder of a startup, it’s definitely worth taking a closer look at how the scheme can benefit your company. UK SMEs are able to claim 230% of eligible R&D costs in tax credits.
These credits can help offset the corporate tax small business owners pay each financial year. What’s more, even companies making a loss can claim 14.5% of “surrenderable” losses so as to offset tax liabilities.
How Prosper can help
Prosper² is keen to ensure its members maximise their R&D tax entitlements. We have therefore introduced a service for members to determine whether their businesses are eligible to claim under R&D tax criteria.
You can find the Research & Development Tax Credits Eligibility Assessment in the Reports section of the Service Hub. Click here to find out more.
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The government’s R&D tax credits scheme could be an effective launchpad for your innovative new business. In today’s hyper-competitive world, this can make all the difference.
Learn how to use the government’s R&D tax credits scheme to benefit your business and ensure innovation helps your business stand out from the crowd.
R&D tax reliefs support innovative businesses working on projects that push technological or scientific boundaries.
Discover why now is a great time to claim for R&D tax relief and how to succeed when claiming.
We’re exhibiting at the 41st edition of The Business Show on the 15th & 16th May at London ExCel. We highly recommend that you attend.
Find out how Prosper² Rewards and Prosper² Business Club can benefit both you and your business by visiting us on stand 122.
Recognising and rewarding customer loyalty has become the mainstay of a sustainable business-client relationship.
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