We know that Research & Development (R&D) Tax Relief isn’t simple. Time after time, many of the businesses that we talk to about R&D relief have the same misconceptions about what they can claim for, such as:
We pay a lot of rent on our premises… that will form a huge part of our R&D claim.
As we own the business, we pay basic directors’ salaries and the remainder in dividends. Do those count?
We’ve spent a fortune on legal fees trying to protect our Intellectual Property. That will certainly add up.
Unfortunately, none of the above expenses qualify for R&D tax relief. Some forms of expenditure are specifically excluded from R&D tax relief claims. The main ones that confuse businesses are:
- Rent costs for premises
- Off the shelf capital equipment
- Dividend payments
- Patent protection
The key to maximising your R&D claim is receiving the best advice. At Champion Accountants, we have qualified Chartered Tax Advisers who can provide a tailored solution based on your circumstances.