R&D tax rebates for businesses

If you create or sell a product or a service within the fields of science or technology - or if you’re developing new processes to further your understanding or abilities - you could be entitled to claim R&D tax credits.

An overview of R&D tax rebates

Many firms make the mistake of thinking that their industry makes them ineligible to claim R&D tax credits. Often, they’re of the opinion that, if they’re not a pharmaceutical or tech business, then what they’re doing couldn’t possibly be classed as research and development. More often than you’d think, however, that’s simply not the case.

If you create or sell a product or a service within the fields of science or technology or if you’re developing new processes designed to further your abilities and understanding, there’s every chance that your business invests in R&D. If that’s the case, you may be eligible to claim R&D tax credits, even if your specific research projects didn’t prove successful.

Large or small, your business could be eligible to claim R&D credits if you’re using your own (or even subcontracted) team in the development of new products, systems or services. Even if that work is being carried out on behalf of another organisation, you may still be eligible to make a claim on behalf of your own company.

Why choose Phil Owen & Co.?

If your business is profitable, we could help you achieve a substantial reduction in your Corporation Tax liability. Even if your business is loss making, those same tax credits could be converted to a significant cash boost. What’s more, your ability to claim isn’t limited simply to the last financial year. Instead, eligible companies are entitled to claim tax credits for the last two full financial years.

Before you claim, however, you need to check whether your firm is eligible and, just as important, whether your project counts as R&D. Doing this yourself can require lengthy and detailed explanations to HMRC backed up by a whole host of supporting evidence. Thankfully, at Phil Owen & Co., we offer a hassle free R&D credits service for businesses in Liverpool and Wirral, performing the necessary calculations, completing the paperwork and submitting your claim direct to HMRC on your behalf.

In addition, we offer proactive, expert advisory in other accounting matters too – including Corporation Tax support and general accounting services. Jump-start the process by arranging a free consultation with us either at your office, or at our Liverpool HQ.

Why use Phil Owen & Co.?

A respected firm of chartered accountants, we’re trusted by hundreds of businesses and private individuals throughout Liverpool, Wirral, Cheshire and Lancashire.
Thanks to our ICAEW Chartered status, you can rest easy, safe in the knowledge that both your business and personal finances are in capable hands.
We’re no ordinary accountant. By getting to know your business and its goals, we’re able to provide proactive, expert advice that adds genuine value to your team.
Regardless of their size, following an introductory phone call, all new clients receive a free consultation, either at their premises or at our offices in Liverpool.
From sole traders and SMEs to national I.T. and construction businesses, our accountancy services are tailored to suit our clients’ individual requirements.
We take pride in the friendliness and approachability of our staff. From the moment you first make contact, we’ll treat you as we’d like to be treated ourselves.

Dont just take our word for it...

Dane Fennelly, Managing Director E2E Technologies

“E2E have used Phil Owen & Co. for a number of years now. The service we’ve received has been first rate with requests dealt with promptly and advice provided proactively. I couldn’t recommend them highly enough.”

Kevin Collins, C.B. Transport Refrigeration Ltd

"As a multimillion pound turnover business we have used Phil Owen and Co Limited as our accountants for many years and have made substantial tax savings as a result of the Research and Development claims advised by Phil. We would highly recommend them to anyone looking for a professional service.”

Ian Johnson, Company Director (Private Individual)

“Phil Owen's services were recommended to me by a friend a few years ago and, I have to say, I haven't been disappointed. From day one I've received an excellent service.”

Paul McHale, Contractor (Sole Trader)

"I was referred to Phil Owen when I became a sole trader a few years ago as I was struggling to find the time to deal with my finances as well as work six days per week. Their advice was really easy to understand and proved very helpful to me and I haven't looked back since."