R&D Tax Relief

If you’re looking for advice on R&D Tax Relief, you need experts you can trust

If your business is investing in research and development to advance science or technology, you may be able to claim R&D Tax Relief on the cost of your R&D activities.

R&D Tax Relief explained

R&D Tax Relief is a government initiative designed to incentivise innovation by providing UK companies with a mechanism for recouping some of the cost of their R&D investment as a tax saving or tax credit.

The scheme allows limited companies to reduce their Corporation Tax liabilities further - between £16.34 and £21.50 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 £18.60 per £100 spent (or £26.97 for R&D 'intensive' businesses).

Claiming R&D Tax Relief can provide a valuable boost to a company’s finances if you have a qualifying project, but it is important to understand the rules and limitations of the scheme by taking expert advice.

Who can claim R&D Tax Relief?

Businesses in any sector can be entitled to claim R&D Tax Relief, but they must be looking to make an advance to overall knowledge or capability in a field of either science or technology.

Amongst a list of qualifying conditions, the two most critical components of an R&D Tax Relief claim is that the company is seeking to make an advance, and they have identified scientific or technological uncertainty when completing their project.

Claims can be made on employment costs, sub-contractor expenses, and the cost of materials, consumables and software, with eligible R&D projects being able to claim between £35.34 and £46.50 for every £100 spent.

We are a member of the R&D Community, a group of accountants and consultants who drive best practice and compliance in R&D Tax Relief claims by sharing their knowledge. Working with others in our sector, we aim to be part of the development of an industry standard that will form an accreditation for accountancy firms practising in this area.

Thanks to our extensive experience in this field, we can guide you through the process of identifying which elements of your work qualify for a compliant R&D Tax Relief claim. Potentially, this could help you unlock hidden capital, so that you can put it to best use within your business.

If you’re keen to work with an accountancy firm that you can trust to provide you with expert advice on whether R&D Tax Relief could be available to your business, talk to us and you can be certain that we will help you maximise the opportunity, while complying with HMRC rules.

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

 

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