-1.png?width=1000&height=150&name=Copy%20of%20Accountants%20for%20the%20Creative%20Industries%20(3)-1.png "Copy of Accountants for the Creative Industries (3)-1")
Spending money on new ideas can be risky, so many businesses shy away from it as it brings costs but not necessarily any income. In 2001 the UK government set up the R&D scheme to encourage companies, large and small, to put more time and effort into innovation.
Since then more than £6.5bn has been claimed as tax relief and the number of claims increases each year. However, Research & Development Tax Credits are still in the main misunderstood or bypassed by many companies as they believe it is not for them…. Many of them are wrong…. Don’t fall into that pot and miss out.
WardWilliams Creative specialise in accounting for creatives and have put together a free guide to outline the what, why and how of R&D tax credits for video gaming companies. If you would like further information on any topics raised in the guide then please get in touch.
WHAT IS THE R&D TAX CREDIT SYSTEM?
The creatives industries create huge amounts of innovation every year and much of that will in some part at least qualify for the R&D tax credits.
WHO IS IT FOR? WHAT VIDEO GAMING COMPANIES NEED TO QUALIFY.
If you are a video gaming company and you innovate, then you could be working on a project right now that qualifies.
In most cases companies are not sure if they qualify or which expenses will qualify and they often make mistakes in the claim process which leads to the claims being much smaller or rejected by HMRC. We give a detailed list of items which can be claimed, and where the main costs can be seen.
We explain how to prove to the HMRC that your technical innovation meets the criteria and how a report should be filed as part of the company tax return.
WardWilliams Creative provides business support, tax and accountancy services for people and brands working within the creative industries. From TV to tattoos, architects to artists, fashion to food, bitcoin to branding – if creativity is at your heart you’ve landed on the right page!