£88k reduction in Corporation Tax for Accountant's Buckinghamshire-based client

An Accountant client of Croner Tax asked for support in confirming the eligibility to claim R&D Tax Credits of one of their Buckinghamshire-based clients, who supply fittings to a number of international airlines. We met with the Accountant and his £8m turnover client, and confirmed (a) that they were indeed eligible, as they were standing the risk / cost of the development work they undertook, were seeking advances and using technology to overcome uncertainties and (b) ‘sized the prize’ i.e. confirmed what the tax save / recovery would be from claiming.

If you need advice on claiming R&D tax credits, please get in touch with the expert team here at Luvo and we’ll be happy to help.

The company was delighted, both with their Accountant and ourselves, particularly so as the claims for the first 2 APE’s reduced their Corporation Tax payable by £88k i.e. by almost 20%, and subsequently their third year by a further £49.5k.