R&D Tax Relief For The Web Development Industry
Does your UK business operate within the Web Development sector? Are you looking for assistance with claiming R & D Tax Credits? Our panel offer a no-obligation assessment of your claim.
Web Development R&D Tax Credit
Many web development companies are completely unaware of the benefits which are available for them to claim through the scheme of Research and Development Tax credits. Without web development, the online world would be very disorganised and difficult to use. Through intricate research and development, over the years the web development sector has made significant progress. Websites, which are one of the main products of web design, are extremely diverse with people now able to build their own sites to suit their own needs and personalities.
Many businesses now make millions each year simply from their online sites all thanks to clever web design. This sector is a vast area of employment and entertainment and most important of all it is a significant contributor to the economy. Hence the need for financial support through web development R&D tax credit. Here’s an in-depth look into this subject.
What is web development R&D Tax Credit?
When starting out, web developers often don’t know what their research and development projects will amount to. Some just do it for fun or out of curiosity to solve a certain problem. It is for this reason that they stand to be prominent gainers of the web development R&D tax credit scheme.
The time and work that goes into developing new features and functions on a website are what web development is mainly about and it is for the same reason that it qualifies for tax relief.
It could be the works of a large web development company working on a huge research project or a simple and smaller everyday task project by smaller web development companies. Here, everyone is equal. With the main goal being to provide equal means for companies to grow through research and development regardless of whether they are new players in the field or veterans in the web development world.
What kinds of situations set one web design on the R&D qualifying side?
Are you working on customising a website? Are you trying to find a way to integrate different platforms? These are all great pointers towards qualifying but to be sure that you are one of the companies that stand to benefit, here are a few factors to keep in mind;
- Are you working on a new product, device, service or process? If you used new knowledge and information into the workings of your projects, you instantly qualify for an R&D tax credit claim.
- Is this project that you are developing or researching an improvement of what was there previously? Be it a service, a product, a device or process, where you spent money to try and find ways to improve it. If your answer is yes, you do qualify.
Certain activities that stand out among qualifying activities in research and development in regard to web development include:
- Developing unique software
- Linked or integrated data systems in a unique or fresh way
- Developing custom apps for customers
- Research on developing auditing aids for SEO
- Improving the functioning of platforms, among many other activities.
In a nutshell, larger research and development projects on data analysis, software development, and web development, in general, tend to have great potential which makes the R&D tax credit scheme even more useful as a crucial tool towards growth in the sector.
Many companies are now coming around to the idea that through conducting numerous research projects, they become better whether they make profits or losses. Note that the R&D tax credit is there to support web development company projects whether they make losses or profits. This fund looks to encourage efforts in research and development by giving the companies a much needed push towards conducting new projects. This way, both the company and the entire UK stands to benefit.
We are here to help
It may seem like a huge task to prepare your claims and you may be worried that you could miss something relevant out of the claim form.
Our panel have a wealth of experience in working with web development companies both young and established. They know how these companies operate and are experienced accountants who are eagerly waiting to help you make your claim.
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