Jane Ollis, Managing Director of RIFT Research & Development asks the question - Are you getting credit where credit is due?
Could you be one of the millions of small businesses in the UK missing out on an openly available Government incentive? Research and Development (R&D) Tax Credit is the UK’s largest funding source for businesses who are innovating, so delivering an improved product, process, device, material or service – a problem solved.
Both Trade Supplier and Home Technology Professional members have submitted entries in the CEDIA Awards Best Custom Solution and Best Innovative Product categories. This is a good indication that CEDIA members could be entitled to tax credits. It is for this reason that CEDIA has developed a relationship with RIFT, who have successfully worked with small businesses to claim back Tax Credits for technical developments, with an average claim of £46,000.
Who is RIFT?
As a family business working collaboratively with HMRC since 1999, RIFT is a recognised and established team, well versed in this scheme. If you have activity that qualifies, RIFT will help your business secure what could be a game changing amount of money. This is a Government subsidy, just sat there, waiting to be claimed. It can deliver a huge reduction in your corporation tax or give you a cash injection. Many business owners don’t realise that business development activities they are already carrying out qualify for this scheme. RIFT is 100% successful in helping our clients evaluate and claim money back, or gain tax relief on advances and innovations they have made - all with no upfront fee and minimal disruption to your business.
Reasons for CEDIA members to stand up and take notice
R&D Tax Claims
If you have designed an innovative and unique product solution for your business or a client, then you could be entitled to a tax refund.
The most important phrase in HMRC’s definition of R&D for this form of tax relief, is as follows: “The advance in science and technology must involve resolution of a scientific or technological uncertainty”
PAYE Tax Rebate
If you or your employees drive their own vehicle to different sites, RIFT can also help you with this.
CEDIA members are entitled to a discount for a percentage based fee charged for all successful claims.
Find out if RIFT Research & Development can help you and your business. Please visit www.riftresearch.com or call +44 (0)1233 653002 for more information.