To any web designers, this could be one of the most important articles you read this year. Whether you have your own business, or work within a web design company, R&D Tax is something you should know about. This is due to the fact that your business could be owed thousands of pounds in R&D Tax Credits based upon the design and development of software for your own business and that of your clients.
Now, before you start thinking, ‘This is too good to be true’, allow us to explain and expand.
R&D tax credits can be applied for if, among certain other criteria, your business invests money into specific products or services. These must be original and deliver a unique offering to the general public.
The British government allows businesses to claim back money to promote growth for the culture of innovation amongst forward-thinking businesses. Of the many eligible business, this includes web designers and web design agencies.
To help you understand whether your business is eligible for R&D Tax Credits and what the benefits of a successful application would be, we’ve put together an easy to follow guide below.
Is my web design business eligible for R&D tax credits?
There are four main questions that you need to consider before launching an application for R&D Tax Credits;
- Does my business spend time designing web-based applications rather than just creating websites?
- Does my business consider that our web-based applications are creative and innovative?
- Do the software developers in my business trial and experiment before they have a stable and working web-based application?
- Does my business offer more competitive and innovative solutions for our clients than the competition does?
If the answer to all of these questions is ‘yes’, you’ll have a solid foundation for an application.
The British Government has a clear definition of R&D Tax Claim eligibility with a large number of stipulations, however, they all boil down to the questions above when analysed.
What are the advantages of getting R&D tax credits for my web design business?
Rufus Leonard is one of the most innovative web design and development agencies operating in the UK, however, the business didn’t even know it was eligible for R&D Tax Credits, so when a successful application was made, Iain Millar, head of Innovation, said;
“R&D tax credits have had a big impact on our business. The incentive was still a new concept to us and we weren’t sure of the benefit we might receive. In fact, the credit helped fund some refurbishment of our premises, which may have been more costly by other means.”
What is clear to see is that a business can seriously benefit from successfully applying for R&D Tax credits and it could be the difference between becoming an industry leader or falling by the wayside.
How do I apply for R&D tax credits for my business?
We are a specialist R&D consultancy and we have helped a huge number of businesses from a diverse range of sectors with applications to receive R&D tax credits, which is what we would love to discuss with you.
Making a claim is a complex process and making a mistake may cost you. For these reasons, it is critical to have a trusted associate taking care of the details. Make sure to get in touch with us for a free consultation by following the link below. We hope to hear from you soon.