Reduce the cost of the investment you’re making into R&D by as much as 46%!
Successful, innovation can increase your competitive edge. The difficulty is that the time you invest in innovation for tomorrow is also a drain on cash today.
CIK Solutions work to reduce this financial risk, and help you receive cash now to fund both existing and future innovation.
In 2000, the UK Government introduced a scheme to encourage business innovation and research and development. It allows you to convert the value of your investment, whether in staff or subcontractors’ time, into a cash payment or future tax relief.
The good news is you can do this even if you haven’t paid corporation tax – or have yet to make a profit.
What are R&D Tax Credits?
Tax credits are designed to encourage investment in innovation, and lead to business growth that contributes to wider economic development.
The R&D tax relief applies to both profitable and loss-making businesses. Both can claim for eligible activities and the tax relief can be taken by reducing the corporation tax paid and retaining cash within the business, carrying a loss forward to offset against future profits, or in some cases reclaimed as a payable cash credit.
If you are creating new processes, products or services that make appreciable improvements to existing ones: or using technology to approach an existing product or service in a new way, then you may qualify.
CIK Solutions work with you to identify eligible expenditure, quantify that spend and maximise the value of the R&D tax relief claimed.
We develop a clear, concise and intelligent interpretation of your project, apply this to our experience of the R&D Tax credit scheme, and produce an accurate and credible claim.
When CIK Solutions introduced us to the possibility of R&D tax credits I was sceptical, however the process was reassuringly straightforward. We are a very busy company but CIK solutions recognised that and kept our input to the minimum.
I was extremely happy with the results which have made a big impact to cash flow and cash available for reinvestment.C Irvine
CIK Solutions took time to understand our business which made a big difference to the whole R&D process. The quality of the technical report on our innovation was very good indeed. The cash rebate and cash retained in the business was also very welcome and is assisting greatly with our future diversification and product development.J England
I was not aware of the R&D Tax credit scheme until introduced to it by CIK Solutions who were doing some other work for our company at the time. It was an extremely painless process with excellent results and has opened up a new and valuable income stream. It has changed our perception of R&D and innovation as we engage with and find new solutions for our customers.Ricky Kujawa