You probably do more research than you think. But do you know what qualifies as R&D? Are you ready to make the most of the tax credits you could be eligible for under the new regime?

The new R&D tax credit regime provides a lucrative 15% incentive for undertaking innovative and technically challenging projects within your operations. It will be available on your investment in many types of product development and process improvements, and may also be available in tax loss situations.
 
Figuring out whether you are eligible and what you need to do to optimise your return takes hands on experience with the regime;

• The R&D activities definition is much broader than first appears. It is not restricted only to work typically undertaken by an R&D department. For example it may also apply to manufacturing process improvements.
• The regime will apply from the start of the taxpayer's 2008/09 income year. Advance planning will ensure that you have comprehensive systems in place to capture the required data before the regime starts.

Our dedicated national R&D team brings real experience in identifying what is R&D, developing strategies and methodologies, and preparing robust R&D claims and supporting documentation. We can help you maximise the benefits of your R&D claim process by:

• Identifying your activities which qualify as R&D
• Helping you undertake cost/ benefit analyses to determine the potential benefits and level of resource to apply to the regime
• Reviewing the systems which capture qualifying activities and costs, and provide recommendations to ensure they can capture R&D data efficiently

Talk to Aaron Thorn or Peter Felstead about the potential tax credits your business could qualify for.