3 reasons why you shouldn’t bother with R&D tax credits
We get it – R&D tax credits might not seem very straightforward. Yeah, you could use a professional service with years of experience and a proven track record, but filling out a short form and having a few phone calls? Sounds like a faff. Here are 3 reasons why you shouldn’t bother with R&D tax credits.
1. Your business is already perfect
In case you didn’t know, R&D stands for Research and Development. This is anything you do to improve or grow your business, including your products, services, and processes. It can be small things, like developing a new recipe for your ice cream shop to make your cones last longer, to bigger things like creating new software or machinery.
But you shouldn’t bother with R&D. Your business is already perfect. Why spend time improving what you do and taking advantage of new technologies when you can just carry on as you are and forget about growing your business? If it ain’t broke, don’t fix it – right?
- You hate science
A significant amount of R&D is about technological advancements. That doesn’t mean you’re spending hours in a lab with Bunsen burners and test tubes; it’s about the advances you’re making being rooted in some form of technology or science.
The issue is you hate technology and science. Maybe you consider yourself a bit of a technophobe. Photosynthesis makes your skin crawl, and you have a visceral reaction to the idea of covalent bonding. If it were up to you, we’d still be cavemen banging rocks together and hoping for the best. Makes sense.
- You don’t want free money
Money doesn’t grow on trees, but we can find it for you in the form of R&D tax credits. With our partners delivering an average payout of £53k for SMEs and £601k for large companies, the amount of money you get back could help you to continue growing and developing your business. This is money you’ve already spent. It’s yours. You can just take it right back.
Between the cost-of-living crisis, a looming recession, and skyrocketing business costs, we could all do with a little extra cash – not you, though. You don’t want free money. You prefer the simpler things in life and don’t fancy making your business any better or having more money to drive profits. Why would you?
Of course, if this doesn’t sound like you, then you’re in the right place. Let us help you to reap the rewards of R&D and fuel your business’s growth NOW.
