Did you know that only around 10 per cent of firms that are eligible for Research and Development (R&D) Tax Relief actually claim it?

Research & Development Tax Relief

Very few business leaders know that R&D Tax Relief is available to any limited company that is trying to achieve an advance in science or technology within their industry. The day-to-day activities of thousands of SMEs qualify for the scheme, and the relief available can be game changing for firms who want to achieve their growth ambitions.

Businesses in any sector which are developing new – or improving existing – processes, systems, products and software, are eligible. Claims can be made on employment costs, materials and consumables and sub-contractor expenses, and can save up to £43.70 for every £100 spent.

R&D Tax Relief explained

Research and development (R&D) tax relief is a Government initiative designed to reward UK companies for investing in innovation. The initiative allows limited companies to reduce their Corporation tax liabilities by a further £24.70 per £100 spent on qualifying activities. R&D tax credits also allow loss making businesses to reclaim cash from the Government at a rate of £33.35 per £100 spent.

What activities qualify?

Engineering
App & Software Development
Manufacturing
Food and Drink

Construction
Waste & Recycling
Chemical Production
Digital Marketing

R&D Tax Relief Calculator

How much have you spent on R&D activities?
Total tax relief amount
100000 of expenditure
£10,000
£20,000
£35,000
£50,000
£75,000
£100,000
£150,000
£250,000
£500,000
£750,000
£1,000,000
Figures correct as of April 2021.
Our team of qualified accountants, chartered tax advisors and R&D specialists have helped our clients identify more than £40million in R&D Tax Relief, and we have a 100% success rate making claims. In the last 12 months alone, we have supported businesses in engineering, digital, healthcare, retail, manufacturing, food & drink and utilities to achieve cash refunds or Corporation Tax reductions from HMRC, which have been used to help businesses innovate even further.

Using our extensive experience in this field, we want to help more businesses identify which elements of their work qualify for R&D Tax Relief, helping them unlock hidden capital so they can put it to best use within their business. If you’re keen to work with an accountancy firm which will help you grow your business from an R&D cash injection, or one which helps break down the jargon of accounting and tax legislation, please get in touch.

Verify We’ll verify your eligibility 1 Qualify 2 Which form of relief do you qualify for? Identify Identify your R&D activities 3 Prepare Preparing your claim 4 Review Review 5 Submission Submission 6 Payment Payment received 7

 

Why Choose Champion Accountants

100% Successful Claims
£45million+ Relief to-date
£47,572 Average claim size
No fixed term contracts

Hassle free - we do all the hard work for you
Leading accountancy group providing services and strategic business advice to SMEs 
Four offices throughout the North West, servicing clients throughout the UK
Experienced R&D tax team with more than 45 years’ experience

 

SPEAK TO AN EXPERT

David Herd
David Herd
Group Partner
Martin Frain
Martin Frain
Tax Advisory Consultant

For more information about how champion accountants can help,

Contact your local champion office today.