- Welcome to Dynalogic Tax
Working with businesses and individuals to ensure efficiency and compliance across all tax advisory matters.
Dynalogic offers a full range of personal and corporate Tax advisory services to our clients.
RESEARCH & DEVELOPMENT TAX CREDITS (R&D)
Our main area of focus in the corporate tax arena is supporting businesses looking to benefit from the Government’s R&D Tax Credit scheme. Under this scheme, companies that invest in developing new products, processes or services (or improving/developing existing ones) may be eligible for a cash payment from HMRC and/or Corporation Tax reduction… and with R&D Tax Credit rates of up to 27p for every £1 of qualifying expenditure this can be a significant rebate.
We have to date helped our clients claim over £6m of R&D tax credits and some of our clients receive annual six-figure repayments. We don’t charge a thing unless HMRC agree your R&D claim, so it’s risk free for you.
Our main focus is preparing and submitting R&D tax credit claims for technology and IT businesses, however our eclectic client base covers all business sectors.
- What are R&D Tax Credits?
R&D Tax Credits are a valuable government tax relief that rewards UK companies for investing in innovation.
Companies that spend money developing new products, processes or services or improving/developing existing ones may be eligible for a cash payment from HMRC and/or Corporation Tax reduction.
The definition of R&D is wider than you might think and a huge variety of activities qualify that you may not initially consider to be R&D.
R&D Tax Credit rates are the equivalent of up to 27p for every £1 of qualifying expenditure.
Once a claim has been submitted, as part of the company Corporation Tax return, tax refunds from HMRC are usually paid within 3-4 weeks directly into the company’s bank account.
We would have an initial meeting with you at your business premises to discuss how your business works, with a view to identifying projects and expenditure that qualify for R&D tax credits.
We will then confirm the information we need to compile your claim and once we receive this, prepare a short report to be submitted using HMRC’s new online portal with sufficient detail to enable HMRC to approve a claim quickly.
Once this has been done and the numbers calculated, we will liaise with your existing accountants and advise them of exactly what to do to incorporate the R&D claim into your corporation tax return.
Once a claim has been submitted, as part of the company Corporation Tax return, tax refunds from HMRC are usually paid within 3-4 weeks directly into the company’s bank account.
For accounting periods starting prior to 1 April 2023, claims can be backdated for two years by amending previously submitted tax returns. For accounting periods starting on or after 1 April 2023, claims can only be backdated if a claim has previously been made in one of the previous three accouting periods, otherwise advance notification of an R&D claim needs to be made to HMRC for the curent year.
We don’t charge unless you successfully claim R&D Tax credits, so it’s totally risk free for you. Our fee covers everything from start to finish – there are no hidden extras.
Our fixed fee is normally 10-15% of the total benefit you receive, which you only pay after you have received your corporation tax refund and/or cash payment for R&D Tax credits.
Contact us for a one-to-one consultation with one of our tax planners.
- Other Services
Tax is one of the most significant costs that most businesses have to contend with, impacting on every aspect of the business from corporation tax on business profits to VAT on sales and purchases, payroll taxes or tax considerations on business acquisitions and disposals.
Our team of experienced professionals can work alongside your existing accountants to provide a fully integrated service – as we only provide tax advice, there is no conflict of interest or duplication of roles with your incumbent accountants.
Our services cover all areas of Tax to include, but not limited to:
We provide the full range of corporate tax advisory and planning services cover all aspects of company Taxation, including:
- Acquisitions, Disposals, Due Diligence
- Tax efficient Group Structures and Profit Repatriation
- Capital Allowance claims
- International structuring, including location of Intellectual Property
- Property Tax matters
- HMRC enquiries
- Advice on withholding Taxes and international trading, including transfer pricing issues
Dynalogic offers a wide range of solutions to clients in relation to employee matters.
Our services broadly fall into two categories:
Incentivising Employees
In a competitive modern marketplace, it is critical for businesses to retain and motivate the best staff. We can advise you on how to incentivise employees according to your business strategy and commercial aims in the most Tax efficient and cost-effective way.
We can offer advice on
- Tax efficient directors’ and employee remuneration
- Share plans and bonus schemes for directors and employees, including EMI schemes
- Pension contributions
Risk Management
In light of continually changing legislation, businesses need to be aware of the risks of failing to comply with regulations or follow correct procedures when dealing with employees.
We can offer advice on
- PAYE and NIC issues
- Share plans and bonus schemes for directors and employees, including EMI schemes
- Pension contributions
Dynalogic provides bespoke tax planning to individuals both in the UK and internationally.
For SMEs and their owners, personal Tax is as important as corporate Tax, if not more so – we look at the Taxation of businesses and their owners as a whole to maximise the efficiency of cash extraction and wealth generation, ensuring a holistic approach to tax management.
- Income Tax planning
- Remuneration planning and tax efficient cash extraction
- HMRC enquiries
- Advice in relation to EIS and SEIS investments
- Capital Gains Tax planning, including Entrepreneurs Relief planning
- Tax planning on business disposals, including minimising Tax payable on earn outs
- Tax planning for internationally mobile and non-UK domiciled individuals