Cash for innovators
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Transcript of Cash for innovators
INN
OV
ATO
RYou weren’t very good at doing as you were told
so you set up in business
to realise your dreams . . .
You stand out from the crowd
You’re working on new and exciting projects but
VIS
ION
AR
Y
it’s costing a fortune
It doesn’t matterEither way the government have come up with a scheme to reward business owners like you.
It doesn’t matterEither way the government have come up with a scheme to reward business owners like you.
It’s just that they keep forgetting to tell people about it (bless ‘em).
If you can tick all five boxes you could be eligible
1. I have a limited company based in the UK2. I’ve been trading for at least a year
If you can tick all five boxes you could be eligible
1. I have a limited company based in the UK2. I’ve been trading for at least a year3. I employ less than 500 people
If you can tick all five boxes you could be eligible
1. I have a limited company based in the UK2. I’ve been trading for at least a year3. I employ less than 500 people4. My turnover is less than £85 million a year
If you can tick all five boxes you could be eligible
1. I have a limited company based in the UK2. I’ve been trading for at least a year3. I employ less than 500 people4. My turnover is less than £85 million a year5. I’m working on something new and different and I’m
pretty sure my competitors would steal it if they could
1. If you can tick all 5 boxes, we need a 10 minute phone call to see if you meet all the other criteria.
2. If you don’t, you haven’t lost anything. If you do, we need to book a longer phone call (or a visit), with one of your development people.
2. If you don’t, you haven’t lost anything. If you do, we need to book a longer phone call (or a visit), with one of your development people.
Our technical guys need to
understand your innovation in
detail. This usually takes an
hour or two.
3. We then write a
thorough report for
HMRC explaining
how you meet the relevant legislation. This is 80% of the work involved.
4. After that, we work out the money and resources you’ve already spent on all this development stuff.
6. If all goes well, you usually get a cash payment of around 25% of your development costs in 4 to 6 weeks.
6. If all goes well, you usually get a cash payment of around 25% of your development costs in 4 to 6 weeks.
So if you spent £184,000 on salaries and other eligible
development costs over the last two years, you should get back . . .
Yep – that’s right £46,000 which is the average
amount paid out by HMRC
last year to 13,000
innovators just like you