This week’s feature is about one of Introbiz’s newest members and Business expo exhibitors – Lime R&D.
Lime R&D provide a refreshing unique approach to research and development (R&D) tax credit claims. They are no ordinary tax consultancy– they specialise exclusively in R&D tax credits. This level of specialism provides them with a more thorough understanding of the tax legislation, HMRC practice and how it could impact your business. Lime R&D has helped local businesses claim tens of thousands of pounds, tailoring the service to meet the needs of the specific client.
R&D tax credits are a valuable government tax incentive created to reward companies in all sectors who try to achieve something technically challenging. Their goal is to reward past and encourage future R&D spending, benefiting industry and the UK economy. They can reward profitable companies with a generous corporation tax deduction or provide loss making companies with a sizeable cash repayment.
More companies qualify for the relief than you may first think. You do not need to be in bright white lab coats undertaking cutting edge research to make a claim. This is the biggest misconception surrounding R&D tax credits. You would simply need to demonstrate that you have taken a risk by showing you faced challenges that required additional efforts to overcome.
Matthew Jones, Managing Director, commented: ‘We appreciate that the claim process can be a little overwhelming, but the skills and experience of our Chartered Tax Advisers enable us to provide a complete R&D service, ensuring your claim is fully optimised with minimal HMRC risk, providing you with peace of mind and confidence. We take time to understand your business and industry sector and the challenges involved in the project, enabling us to maximise your claim potential.
In 2016, the average value of an SME claim stood just below £62,000 and the average large company claim at £348,000. There is still a huge number of eligible companies not benefiting from the scheme who are missing out on the opportunity to reclaim tens of thousands of pounds in free cash each year.’
Lime R&D also works closely with a number of accountancy firms on fee sharing schemes, allowing practices to offer this service to their customers if the experience is not available in house. Partnering with Lime R&D allows you to give value to your clients by helping them with their development and growth at no additional time or effort.
If you’d like to find out more about Lime R&D and the services they provide, please contact them on 0330 223 4223 or alternatively, email them directly at [email protected]. Keep up to date with Lime R&D on Twitter, Facebook and Linkedin.
