R&D Tax Solutions

Could you claim R&D in 2024?

We are Venture Tax, a UK based R&D Tax Credit Specialists who work exclusively in helping you achieve your business goals by taking advantage of the research and development relief that is on offer. We want to allow you to be as innovate, creative and dream as big as you possibly can as there is nothing, we delight in more than ringing our clients and letting them know about all the fantastic opportunities that can come once knowing you have qualified for R&D tax credits and can claim.

We are strategic thinkers, we began as a full-service accountancy firm many years ago, so you know that you can trust our financial advice and be assured that we are highly experienced in the industry. By specialising in solely in helping businesses claim R&D tax credits and knowing the criteria, it allows us to take our knowledge and refine our service into being as efficient and seamless as it is today.
Putting our customers first is always our number one priority at Venture Tax and creating a long-lasting relationship with our clients as well as helping them to keep innovating and improve the UK business market more and more through research and development relief.

📞 01484 905383
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MERRY CHRISTMAS & HAPPY NEW YEAR! 🎄

We would like to take this opportunity to thank all of our customers this year and wish everyone a Merry Christmas!

Enjoy the festivities & we look forward to seeing you in 2024!

Although our main offices will be closed, we will be available on the email address below.

From the Venture Team 💛

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WHAT CAN YOU CLAIM AS R&D?🤔

This is a question we often get asked at Venture Tax & their answer is lots of things!

External workers - The cost of third-party agency workers used for R&D efforts (please note: capped at 65% of total costs)

Software - Technical software costs

Sub-contractors - The cost of subcontractors used for R&D efforts (please note: capped at 65% of total costs)

Consumables - Utilities, raw materials and components used/transformed during your R&D

Payroll - The cost of employee’s time spent on R&D

If you have a claim, we advise talking to one our team today to ensure all costs are covered and you get the most money back possible.

📞 01484 905383
📧 [email protected]

When is the perfect time to look at submitting an R & D claim? 🤔

The perfect time is just after your year end when your accounts are done.

If your year end is December, this could be the perfect time to have a chat with us regarding a claim.

Getting in touch with us for a chat costs absolutely nothing, so always worth it to see if you’re eligible.

Start 2024 off on a positive foot…⬇️

📞 01484 905383
📞 0191 6053292
📧 [email protected]

(During Xmas and New year, we will be contactable via email only)

WHY WE ARE DIFFERENT ⬇️

We started out as a full-service accountancy firm many years ago – so we have a tried, tested and trusted heritage in financial services.

But we’ve gone one better and chosen to specialise in just one thing – R&D tax credits.

Over time we’ve refined what we do into the efficient, effective and friendly service we offer today.

📞 01484 905383
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How do I make a claim? 🤔⬇️

Time is precious so we keep things simple. Every business is different, so we often tailor these steps to your individual needs:

1. Initial call with a consultant on our team.

2. We’ll be able to tell you straight away whether we think you’re entitled to R&D tax relief and advise you whether it’s worth pursuing.

3. We go over your financial documents and accounts carefully.

4. We confirm the details of your claim with you, either via a conversation or in writing – whichever works best for you. Don’t worry, there are no fussy, long forms to fill out.

5. We write your case up for HMRC. We’re proactive and pre-empt what they’ll need, making sure your case is completed as efficiently as possible.

6. We submit your case. We only ever submit robust cases and ensure all supporting documentation is always in place.

7. HMRC send the funds for your R&D tax credit reimbursement, 28 days later. We only charge you for our services if your claim has been successful.

7 simple steps that could change everything. It is worth getting in touch for a no obligation chat if you think at all there is a chance you could claim.

Nothing ventured, nothing gained.

📞 01484 905383
📞 0191 6053292
📧 [email protected]

HOW DO I KNOW IF I CAN MAKE A CLAIM?

No matter what industry or sector you’re in, your business simply has to meet two criteria:

1. Be a limited company in the UK that has to submit a Corporation Tax return
2. Have invested in developing new or refining existing products, services or processes

With such open criteria for potential eligibility, it isn’t always easy to know if you can claim and if so, what for. That’s where our specialist expertise can help, just get in touch.

📞 01484 905383
📧 [email protected]

R&D CHANGED ANNOUNCED TODAY ⬇️

We’ve suspected for a while now that there would be some big changes to the R&D scheme.

Today the chancellor announced that the 2 schemes will be merged!

We will do further posts on this subject as soon as we know more details so keep your eyes open for them.

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We are well aware that some accountants have the knowledge needed to submit an R&D claim. However, most accountants do not have the specialist knowledge we have to ensure that it is as successful as possible.

Here at Venture Tax, we pride ourselves on having the highest knowledge when it comes to R&D. Over time we’ve refined what we do into the efficient, effective and friendly service we offer today and can proudly say we have a 100% success rate.

📞 01484 905383
📞 0191 6053292
📧 [email protected]

💫CUSTOMER FEEDBACK💫

We have worked with this company for a while now and have helped them with their claims enormously. The biggest compliment we receive is the referral. If our clients refer us to other businesses we know we’ve provided the best possible service.

If you are wondering if we could help you with a R & D tax claim and answer yes to the following 2 questions, please feel free to get in touch:

1. Are you a limited company in the UK that has to submit a Corporation Tax return?
2. Have you invested in developing new or refining existing products, services or processes?

As we say, nothing ventured, nothing gained.

📞 01484 905383
📞 0191 6053292
📧 [email protected]

Really good having Ant Milnes down last week from Leonard Curtis Business Solutions Group to record our next podcast style episode - he was a complete natural 👏

Over the next couple of weeks we will be dropping snippets of value from the recording, so keep your eyes open for that! 👀

📹

📞 01484 905383
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WHAT OUR INTRODUCERS SAY ABOUT US ⬇️

Venture Tax work with accountants to help their clients with their tax claims; one of those is OD Accountants in London.

We asked Niall O’Driscoll, the founder of OD, about his experience being one of our introducers & this is what he said;

“I love the customised service that I get from the team at Venture Tax. They are extremely reactive to enquiries, and I feel like they are an extension of our own ethos. They offer the type of quality service that we ourselves give.

“Venture Tax provide a holistic, end to end service. Their relationship with the client is for the entire journey. It’s great for us to support our clients with this expertise.”

If you would like to be one of our introducers, please feel free to get in touch.

📞 01484 905383
📧 [email protected]

SMALL BUSINESS CLAIMS BACK 2.6K IN R&D THANKS TO VENTURE!

Although this is a relatively small claim, it was more than worthwhile for this company in the logistics industries 👏

There are thousands of pounds going unclaimed for and it is our mission at Venture Tax to help as many people as we can get the money they deserve.

How do I know I if I can claim?
No matter what industry or sector you’re in, your business simply has to meet two criteria:
1. Be a limited company in the UK that has to submit a Corporation Tax return
2. Have invested in developing new or refining existing products, services or processes

With such open criteria for potential eligibility, it isn’t always easy to know if you can claim and if so, what for. That’s where our specialist expertise can help, just get in touch.

📞 01484 905383
📞 0191 6053292
📧 [email protected]

Research and Development (R&D) tax relief is one such incentive. If eligible, companies can claim up to 33% of their expenditure on their qualifying project(s).

By developing software, your business is the perfect candidate for an R&D tax relief claim. In fact, we estimate that 75% of software companies are sitting on a goldmine that they have yet to claim.��The scheme means being rewarded for work you’ve already done, may influence the work you plan to do going forward and can provide a welcome cash injection for your future growth.�
Types of software projects and activities applicable for R&D tax credits
Here are some examples of some of the types of software development projects that could be eligible for an R&D Tax claim:
✅Augmented/virtual reality projects
✅AI and machine learning
✅Cloud computing
✅Data processing and storage technologies
✅IoT
✅Robotics
✅Video game development (these projects may also be eligible for Video Game Tax Relief (VGTR)
✅The development of new software or software development tools
✅Plugins or ‘add-on’ tools to enhance existing applications
✅Extensions to existing software or operating systems
✅Integrations for hardware and software systems
✅Feasibility studies for new software ideas
✅Product or software testing

Crucially, your project could be eligible, even if it “failed” or evolved into something different from the original brief.

So YES, it is definitely worth getting in touch for a chat if you fit with the above.

📞 01484 905383
📞 0191 6053292
📧 [email protected]

Research and Development (R&D) tax relief is one such incentive. If eligible, companies can claim up to 33% of their expenditure on their qualifying project(s).

By developing software, your business is the perfect candidate for an R&D tax relief claim. In fact, we estimate that 75% of software companies are sitting on a goldmine that they have yet to claim.��The scheme means being rewarded for work you’ve already done, may influence the work you plan to do going forward and can provide a welcome cash injection for your future growth.�
Types of software projects and activities applicable for R&D tax credits
Here are some examples of some of the types of software development projects that could be eligible for an R&D Tax claim:
✅Augmented/virtual reality projects
✅AI and machine learning
✅Cloud computing
✅Data processing and storage technologies
✅IoT
✅Robotics
✅Video game development (these projects may also be eligible for Video Game Tax Relief (VGTR)
✅The development of new software or software development tools
✅Plugins or ‘add-on’ tools to enhance existing applications
✅Extensions to existing software or operating systems
✅Integrations for hardware and software systems
✅Feasibility studies for new software ideas
✅Product or software testing

Crucially, your project could be eligible, even if it “failed” or evolved into something different from the original brief.

So YES, it is definitely worth getting in touch for a chat if you fit with the above.

📞 01484 905383
📞 0191 6053292
📧 [email protected]

How much does it cost to make a claim?🤔

First, we only ever charge if your claim is successful with HMRC. The fees we charge varies depending on the type and scale of claim as the scope of work differs greatly. No matter what, we are always upfront about costs and there are never hidden extras.

So, there is no reason to not enquiry with us if you think you may have a claim. It is completely free. The cost only occurs after a successful claim.

📞 01484 905383
📞 0191 6053292
📧 [email protected]

What documentation is needed for us to submit an R&D claim?

Well, we can work with your accountant to collate the information so it really is that easy!

Essentially all we need are:
✅Your accounts and corporation tax return
✅Payroll records

Combined with a quick chat about your business’ activities.

The process is really simple and we are here to take all the stress out of your hands.

📞 01484 905383
📞 0191 6053292
📧 [email protected]

This client review really sums up Venture Tax. We believe our knowledge and expertise is the best around. We go above and beyond for each claim and ensure no stone is left unturned.

If you think you might be able to claim or feel your potential claim wasn’t thoroughly checked previously, get in touch.

📞 01484 905383
📧 [email protected]

HMRC SLOW TURNAROUND 😖

Just an update on HMRC’s turnaround time at the moment - it has slowed down substantially so it’s even more important to get your claims in ASAP to receive the payout sooner.

Don’t wait.

Nothing ventured, nothing gained.

📞 01484 905383
📧 [email protected]

WHAT OUR INTRODUCERS SAY ABOUT US ⬇️

We have recently asked our introducers to describe us in a couple of words, so we thought we’d pick of the 6 that best sum us up!

✅Friendly
✅Reliable
✅Approachable
✅Professional
✅Efficient
✅Transparent

If you would like to be considered as one of introducers, please feel free to get in touch!

📞 01484 905383
📧 [email protected]

Last week we invited Nikki Jarvis-Jones from DMD Design & Marketing to come and chat to us about her business.

Over the next couple of weeks, we will be dropping snippets from the chat & some valuable golden secrets & tips when it comes to branding.

📞 01484 905383
📧 [email protected]