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Haines Watts

Haines Watts

I12

NN47YB Northamptonshire
United Kingdom

Our Haines Watts team of business advisors and accountants provide high quality financial advice to over 35,000, business owners, businesses and high net worth individuals nationwide, helping you to reach your destination with speed and certainty.

From Property, to People Services, Research & Development (R&D) to Corporate Finance, Haines Watts provide a ‘one-stop-shop’ for our clients, via our 13 comprehensive service lines. For companies developing products, processes and services, our specialist R&D service line helps companies claim back the tax credits potentially available to them.

R&D tax relief can provide an important source of funding through cash reimbursement or tax deduction. It’s one of the largest tax reliefs available to SMEs and can be worth as much as 33p for every £1 of a company’s R&D expenditure. To qualify for one of the R&D reliefs, a project must meet the definitions set out by the Department for Business, Innovation and Skills. Broadly speaking, to qualify, a project needs to seek to achieve an advance in overall knowledge or capability in a field of science or technology through the resolution of scientific or technological uncertainty. There’s a common misconception that the only companies who can benefit from relief are those who work in white lab coats in laboratories. This in turn leads to a lack of claimants and in some cases of course, this is true. However, in the majority of claim opportunities, it’s far from the case. In fact, companies that can benefit from the relief, are also those that invest in developing new products, processes or services; or even enhancing existing ones. R&D tax credits can be used as an alternative to innovation grants for Research & Development funding. Sometimes they can even complement them.

With a team solely tasked with maximising claims for our clients, we have a 100% success rate with any claims submitted. By working with us, we’ll minimise the time required from your business to submit the claim, ensure you optimise the value and in doing so, avoid a potential HMRC compliance check. With a Former HMRC R&D Inspector heading up the team, our knowledge and vast sector expertise allows us to work proactively and efficiently to monetise existing or historical claims with you. We also work on a contingent fee basis, so if the claim’s unsuccessful, there are no fees payable to us. We can even work in collaboration with your existing accountants if that’s what you’d prefer.

We have an enviable reputation in the market and work hard to deliver on our clients’ needs and opportunities. Declan Murphy – Commercial Director of Burnetts Manufacturing: “We wanted to explore the opportunities surrounding R&D tax credits. We spoke with the team at Haines Watts who were very supportive in this, offering superb advice that led to the recovery of significant R&D monies for us. We’ve now agreed to a 3 year partnership and look forward to exploring further opportunities as we expand into new customers and products”.

Product news

  • Are you owed a R&D Tax break?

    We’d all like some free cash, wouldn’t we? Well it’s not quite ‘free’, but the vast majority of businesses in the UK are missing out on claiming what’s rightly due to them in the form of Research and Development (R&D) tax credits. These are a valuable government tax relief that rewards UK companies for investing in innovation. Introduced into UK tax legislation at the turn of the millennium, their aim has been to encourage businesses to increase investment in innovative activities. R&D tax reliefs offer significant benefits for companies advancing science and technology.

    https://www.hwca.com/accountants-northampton/resea...