What are R&D Tax Credits?

In 2000, HMRC introduced the R&D Tax Credits incentive to help fuel the UK’s Innovation growth, so that the UK can compete on a global scale as a leader in Industry. Since then, it has been utilised by many SME’s to develop new products and improve existing processes. It’s a common misconception that you have to be working within a… Read More

R&D Tax Credits explained

Encouraging growth for companies that are seeking to achieve an advance in Science or Technology. R&D relief is a valuable government tax relief that rewards companies in the UK for investing in innovative projects, that lead to an advancement in their fields. Since it’s conception in 2000 many companies have relied on Tax Credits to fuel growth for the future. However,… Read More

Will I qualify for R&D Tax Credits?

More companies qualify for the relief than you may first think. You don’t need to be in a lab coat undertaking cutting edge research. This is one of the big misconceptions across the R&D Tax Credits incentive. If your project tackles technical challenges that are not readily deducible from common industry knowledge, then the work you undertake trying to find… Read More

How much can I claim?

If you fall under the SME incentive you can deduct another 130% of any qualifying R&D costs from your annual profits, in addition to the normal 100%. Making a total deduction of 230%. If the company is loss-making you can claim a Tax Credit worth up to 14.5% of the surrenderable loss. Large companies can apply for RDEC which is… Read More

What are the eligible costs?

The expenses your company incurs in trying to overcome these scientific or technical challenges can form the basis of an R&D Credit application: Expenditure on staff including salaries, employers NIC & pension contributions Expenditure on externally provided workers Expenditure on sub-contracted R&D activities Expenditure of consumables and materials (inc. heat, light, power and water) Expenditure on software and relevant software… Read More

How many times can I claim?

As long as your company is taking a risk by innovating, improving, or developing a process, service or product, then it will more than likely qualify for Research & Development Tax Credit relief in the form of a cash rebate or a reduction in your Corporation Tax. Read More

Which scheme can I apply for?

There are different schemes your company may apply for when it comes to R&D tax relief depending on the size of your company and whether the project has been subcontracted to you or not. The two schemes are the SME R&D Relief and Research and Development Expenditure Credit (RDEC). We have a service which far extends the initial report submission.… Read More

How much time will I spend applying for R&D Tax Credits?

Compiling all the relevant financial and technical information to submit your R&D claim can seem like a mountain to climb but we have spent years streamlining the R&D application process and assembling an experienced team to make the process as easy as possible. We have dedicated technical specialists that understand the backend functionalities of your development process’ and the ever-changing… Read More