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Investing in innovation - Does your business qualify?

Euphoria Living want to help your business financially so you can start focussing on what's important...

First and foremost our mission at euphoria living is to offer you a tailor made wellbeing package that support's employees of your business that provides you with a Return on Investment.

It's estimated that 80% of companies that are entitled to R&D tax credits are not claiming them, and this is in part down to the complexity and specialism required to achieve a successful claim.

What a difference a matter of weeks makes  - in very little time England have gone from eat out to help out to the brink of a national lockdown.

Since Covid-19 more than ever businesses across the UK would benefit immeasurably from a cash injection, as we've seen some of the strongest of businesses spiral intofinancial hardship since the pandemic, and unfortunately we're still in the the eye of the storm. 

Since March, almost 10 million people have been placed on the furlough scheme, which pays the wages of those who cannot work because of coronavirus. Businesses now have to contribute towards the salaries of their furloughed staff and the scheme is due to end very soon on the 31 October.

Fear and anxiety about a new disease and what could happen can be overwhelming and cause strong emotions in adults and children. Public health actions, such as social distancing, can make people feel isolated and lonely and can increase stress and anxiety.

This is why we've partnered up Access2Funding with our help you to help your people initiative

*should you qualify for R&D tax credits enquire today by clicking on ADD TO DAY BUILDER to the right of this page.

Research & Development What is it?

Research & Development (R&D) tax credits is a government led initiative designed to reward UK companies for investing in innovation and look to improve or overcome challenges or uncertainties which they face within their industries. Administered by HMRC, it is an area often overlooked by accountants due to the specialism needed to build claims on behalf of clients and also to be able to maximise claim potential.

On average our partners claim back £35,000 for clients, have a 100% success rate and operate on a succession only basis. Meaning there are no upfront costs for the clients and no risk.

Who is Eligible?

  • UK based companies
  • Limited and liable to pay corporation tax
  • Seeking to overcome uncertainties within an industry
  • Seek to improve processes, services, materials, devices
  • Work requires trial and error to get to the end result
  • Have you invested in failed projects or developed products that have never launched
  • Employ technical staff
  • Projects involve design and/or implementation
  • There is a process in getting from A to B

https://www.access2funding.co.uk/eligibility

*If you think you might be eligible click on the ADD  TO DAY BUILDER to the right of page.

What can be claimed

  • Staff costs (including employers pension and employers NI, but not benefits in kind)
  • Externally provided workers, e.g. agency staff (up to 65%)
  • Materials/consumables used directly in the R&D process
  • Power, water, fuel used directly in the R&D process
  • Computer software - Subcontracted R&D costs can be claimed (up 65%)
  • Wastage

How companies are categorised

SME’s

  • Employ less than 500 staff - Have either an annual turnover less than 100m euros or a balance sheet under 86m euros
  • SMEs can get back up to 33% of the amount they’ve spent on qualifying R&D. 

RDEC (Research & Development Expenditure Credit)

  • Employ over 500 staff
  • Have turnover over 100m euros and more than 86m euros on the balance sheet

Large companies claim at around 10% and is shown as income on the balance sheet.

As a guide, we have a list of industries and sectors we have worked with in the past, including:

• Air Conditioning

• Agriculture

• Automotive

• Construction 

• Commercial Refrigeration

• Demolition

• Drainage & Sewage

• Electrical Contractors

• Engineering

• Fabrication

• Fire and Security

• Flood Defence

• Food & Drink Production

• Hospitality

• IT & Software

• Marine

• Manufacturers

• Sciences

• Waste Disposal 

*This is an example of sectors and is not an exclusive list of those we work with. 

 

If you have read up to this point and have a belief that you could be eligible click on ADD TO DAY BUILDER and start the FREE process to see if you are eligble. 

The Government are set to increase publive R&D investment to £22 billion per year by 2024-2025, therefore a successful claim is not just for today but also tomorrow (your future).

#supportlocalukbusinesses #wellbeinginthework #wellnessinthework #returnoninvestment #hr

ADD TO DAY BUILDER
Plans to increase public R&D investment

Plans to increase public R&D investment

to £22 billion per year by 2024-25