SourceHidden 2Hidden 3Email HeaderThank you for taking the time to complete the R&D tax qualifier quiz.Your individual report is compiled in the PDF attached with your results.I hope you find them valuable to read through and learn from.Email FooterMany thanks,Tim HolmesGrowth in Businessgrowthinbusiness.comCompanyAvailable values for Topic 1Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Are you a UK based limited company?*YesNoThis field is required.Have you been trading for over one year?*YesNoThis field is required.CompetencyAvailable values for Topic 2Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. How experienced are you in your field?*I have a relevant qualificationI have a number of years of experienceI am both qualified and have a good deal of experienceI don't have a relevant qualification and can’t say I have a lot of experienceThis field is required.ResearchAvailable values for Topic 3Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Are you developing a new PRODUCT or SERVICE, or significantly enhancing an existing one?*New product or serviceSignificant enhancement of existing product or serviceBoth a new product or service AND enhancement of existing product or serviceNone of theseThis field is required.Is your new product or service related to the company's future or present trade?*YesNoThis field is required.Are you developing a new PROCESS (steps taken to achieve an end result), or significantly enhancing an existing process?*New processSignificant enhancement of existing processBoth a new process AND enhancement of existing processNone of theseThis field is required.Is your new process related to the company's future or present trade?*YesNoThis field is required.What level of research was conducted to help overcome these challenges?*Quick google and the answers were readily availableMainly online research with some consultingSubstantial research requiring effortLots of intricate research with no answers availableThis field is required.Technical DifficultiesAvailable values for Topic 4Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. Have you had to overcome any difficulties or challenges when developing or enhancing?*YesNoThis field is required.How difficult were these challenges to overcome?*Not at allSomewhatFairlyVeryThis field is required.CostAvailable values for Topic 5Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. How significant was the cost of carrying out the project? (Include internal labour and external costs)*Not much cost at allSome cost involvedSignificantly costlyBig cost overallThis field is required.Paying YourselfAvailable values for Topic 6Simply count the total number of values someone can possibly achieve. Include all questions from this topic into one score. How are you paying yourself as the company director?*Minimum salary with dividendsDesired salary with some dividendsNo salary and no dividendsSalary with no dividendsThis field is required.Final Details*One final step before we email you through your PDF report which includes: Your score Your key areas Detailed information about your eligibilityYour personalised report will be emailed to you along with relevant tips supporting your score. View our Privacy Policy First * Last * Email * This field is required.Identify the lowest topic numberDo not edit me. Showing the {N} lowest Key Areas of Improvement LOWEST(N) ~> LOWEST(2) HIGHEST(N) ~> HIGHEST(2) AND Check to is Total number of Highest / Lowest keys wanted to show on Appearance tab OR: use MIN / MAX and check to is Identify the lowest topic number on Appearance tab Topic 1 GapDo not edit me. Topic 2 GapDo not edit me.Topic 3 GapDo not edit me. Topic 4 GapDo not edit me.Topic 5 GapDo not edit me.Topic 6 GapDo not edit me.Topic 1 Yes Most ImportantDo not edit me Topic 2 Yes Most ImportantDo not edit me.Topic 3 Yes Most ImportantDo not edit me Topic 4 Yes Most ImportantDo not edit me.Topic 5 Yes Most ImportantDo not edit me.Topic 6 Yes Most ImportantDo not edit me.General Feedback text for Overall score of 0-33%According to your answers today, it appears that you don't qualify for R&D Tax Credits.This is because, if you are NOT a UK Ltd Company you will not qualify.There may be some steps you can take to change your eligibility status.For example, changing from being a sole-trader to being a Limited Company.Read on to find out if this applies to you and if it’s something you might want to pursue.General Feedback text for Overall score of 34-66%According to your answers today, it doesn’t appear that you qualify for R&D Tax Credits right now but there is a good chance this may change in a year’s time.Read on to find out if this applies to you.General Feedback text for Overall score of 67-100%According to your answers today, it looks like you have a good chance of qualifying for R&D Tax Credit.Read on to find out how likely your application is to be successful.Topic 1 Key Area of ImprovementCompanyThe R&D Tax credits scheme is only open to Limited Companies.This is because it relates to an offset in Corporation Tax.So, if you are a Sole Trader, you don’t qualify as you don’t pay corporation tax.If you’re thinking about changing to a Limited Company in order to claim R&D Tax Credits, you must get relevant professional advice. This isn’t a decision to be made off the back of this report alone.Because the R&D Tax credits scheme is an offset of Corporation Tax, Limited Companies trading for less than a year have no reason to claim as they will have no accounts or Corporation Tax Submission to make. Once these are ready, then an R&D Tax Claim can be made.If you do qualify but haven’t claimed yet, you can go back retrospectively and claim from the past two accounting years.Topic 2 Key Area of ImprovementCompetencyIndividuals involved in the project need to either hold a qualification or have suitable industry experience in order for it to be deemed appropriate for them to undertake R&D activities.Otherwise, there is no foundation of knowledge to build from and it would be pure guesswork.Topic 3 Key Area of ImprovementResearchIf the information is readily available in the public domain and could be found by purchasing a book or a quick search on the internet, then was the R&D really necessary?It could be a simple case of just copying what was already out there, this does not make a strong case for claiming R&D Tax Credits.It could be that the R&D had already been carried out by another company, but the results are not in the public domain. After conducting the necessary research, no results were found, then there would be a requirement for R&D.This could be necessary just to keep up with the competition, or even to get ahead.Topic 4 Key Area of ImprovementTechnical DifficultiesSay a ‘Project’ was;Carried out in a specific period of timeThe research was completedThe person who carried out the project was either qualified through an academic qualification or industry experienceThere may then have been difficulties that needed to be overcome. These difficulties require R&D to overcome them and reach the end result.Think of it as a ‘Hurdle Race’, you will need to jump the hurdles to get to the finish line.If you don’t manage to jump all the hurdles and fall, in other words, the project fails, you can still claim R&D Tax Credits for the work you have carried out.At the end of the project you'll need to have made an advancement in Science or Technology. Think of it as something that is left behind, so that someone can pick it up and take it to another level, raising the baseline of knowledge.This knowledge does not have to be shared in the public domain, afterall it could be used as a competitive advantage in a number of ways; an enhanced product, cheaper or quicker production leading to more competitive pricing, and so on.Topic 5 Key Area of ImprovementCostIn simple terms all the costs associated with the project can be offset against the R&D claim. This can include, labour, materials, purchases, subcontractors, a proportion of overhead, and so on.A note to be aware of: labour can be the largest cost associated with an R&D Project, many owners of SME’s will pay themselves a small wage plus dividends. Dividends are not an allowable cost in terms of an R&D claim, it has to be PAYE income, this will then reduce the size of an R&D Claim if the business owner is heavily involved in the project.Topic 6 Key Area of ImprovementPaying YourselfPAYE Income versus Dividends;Dividends are not allowable as an R&D expense, you will need to consult a relevant professional to find out the difference in benefit.Many owners of SME’s will pay themselves a small wage plus dividends. Dividends are not an allowable cost in terms of an R&D claim, it has to be PAYE income, this will then reduce the size of an R&D Claim if the business owner is heavily involved in the project.No you don’t qualifyThis probably isn't the result you wanted to hear but if you book a call with me there's nothing stopping us from making the changes needed to get the outcome you wantMaybe qualify in a years timeLet's dig in and make sure you're ready to take advantage of the R&D tax relief you will be entitled to. Book a call todayYes qualify nowTime to take advantage of some welcome tax relief! Book a call and find out how much you'll receive.Topic 1 Detailed Text for 0-33%dTopic 1 Detailed Text for 34-66%dTopic 1 Detailed Text for 67-100%dTopic 2 Detailed Text for 0-33%Topic 2 Detailed Text for 34-66%Topic 2 Detailed Text for 67-100%Topic 3 Detailed Text for 0-33%dTopic 3 Detailed Text for 34-66%dTopic 3 Detailed Text for 67-100%dTopic 4 Detailed Text for 0-33%Topic 4 Detailed Text for 34-66%Topic 4 Detailed Text for 67-100%Topic 5 Detailed Text for 0-33%Topic 5 Detailed Text for 34-66%Topic 5 Detailed Text for 67-100%Topic 6 Detailed Text for 0-33%Topic 6 Detailed Text for 34-66%Topic 6 Detailed Text for 67-100%Topic 1 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic. Topic 2 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 3 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic. Topic 4 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 5 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.Topic 6 %Please only change (edit, add remove) the + part, with the XXX referring to each of the field IDs in the questions in this topic.TestimonialsTestimonial 1"I was personally recommended this company to speak with for advice regarding grants and funding. I spoke with Tim who was really helpful and professional. His knowledge was good and areas that he didn't cover, he investigated further and followed up with emails to inform me. Definitely a great customer experience, and I came away from my call feeling like I had the info I needed. I have no doubt that he will be able to help me with any applicactions I put in. I highly recommend Growth In Business."Bethan BertrandTestimonial 2"Tim has been great in helping to organise and structure my business. He is very dedicated to help others to get to the next level and achieve the full potential. He's not just very experienced and knowledgeable, but also very easy to communicate with."Janis BalodisOverall Total NumberAdd in ALL questions below. This will simply add up all questions and give a total number of points for all. Overall Current PercentageCreation note: Change "40" to the number of total points available in this quiz. E.g. Total of 6 questions is 4x6 = "24". Total of 8 questions is 4x8 = "32". etc All topics have 100% scored - MessageDont change Label Final score is LowDo not edit me. Final score is MediumDo not edit me. Final score is HighDo not edit me. Key Area(s) of Improvement Title