R&D

What are R&D tax credits?

The research & development (R&D) tax credit is designed to encourage innovation and increase spending on R&D activities for companies operating in the UK.

It’s one of the UK government’s top incentives for encouraging investment in research and development and allows up to 33% of a company’s R&D spend to be recovered either as a reduction in Corporation Tax or a cash repayment.

How do R&D tax credits work?

Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for R&D tax relief. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment and/or Corporation Tax reduction. The scope for identifying R&D is huge – in fact, it exists in every single sector. And if you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods.

R&D

What are R&D tax credits?

The research & development (R&D) tax credit is designed to encourage innovation and increase spending on R&D activities for companies operating in the UK.

It’s one of the UK government’s top incentives for encouraging investment in research and development and allows up to 33% of a company’s R&D spend to be recovered either as a reduction in Corporation Tax or a cash repayment.

How do R&D tax credits work?

Companies that spend money developing new products, processes or services; or enhancing existing ones, are eligible for R&D tax relief. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a cash payment and/or Corporation Tax reduction. The scope for identifying R&D is huge – in fact, it exists in every single sector. And if you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods.

Is my business eligible for R&D tax credits?

To benefit from R&D tax incentives, you must:

Be a limited company in the UK that is subject to Corporation Tax
Have carried out qualifying research and development activities

Have spent money on these projects

Who qualifies for R&D tax credits?

R&D can take place in any sector. It occurs in everything from construction to manufacturing, I.T. finance, engineering, retail, wholesale, communication to renewable energies.

What’s the process to claim R&D tax credits?

R&D tax credit claims are monitored and processed by HMRC, and you can make a claim going back 2 accounting periods.

What counts as R&D?

The government’s R&D criteria are purposefully broad. Whatever size or sector, if your company is taking a risk by attempting to ‘resolve scientific or technological uncertainties’ then you may be carrying out qualifying activity. This could include:

Creating new products, processes or services
Changing or modifying an existing product, process or service

This means that if you’re not sure your project is scientifically or technologically possible, or you don’t know how to achieve it in practice, you could be resolving uncertainties and therefore qualify for R&D tax relief.

Is my business eligible for R&D tax credits?

To benefit from R&D tax incentives, you must:

Be a limited company in the UK that is subject to Corporation Tax
Have carried out qualifying research and development activities

Have spent money on these projects

Who qualifies for R&D tax credits?

R&D can take place in any sector. It occurs in everything from construction to manufacturing, I.T. finance, engineering, retail, wholesale, communication to renewable energies.

What’s the process to claim R&D tax credits?

R&D tax credit claims are monitored and processed by HMRC, and you can make a claim going back 2 accounting periods.

What counts as R&D?

The government’s R&D criteria are purposefully broad. Whatever size or sector, if your company is taking a risk by attempting to ‘resolve scientific or technological uncertainties’ then you may be carrying out qualifying activity. This could include:

Creating new products, processes or services
Changing or modifying an existing product, process or service

This means that if you’re not sure your project is scientifically or technologically possible, or you don’t know how to achieve it in practice, you could be resolving uncertainties and therefore qualify for R&D tax relief.

How can we help?

By taking advantage from our specialist R&D tax credit knowledge and experience, you can be sure of securing & maximising your R&D tax claim.

Confident of delivering value to our clients, we offer our R&D tax services on a success fee-only basis
We handle your R&D tax claim from start to finish

We identify all of your qualifying projects and all your eligible expenses, including costs often missed by generic consultants
We look to work together for the long term and add value to our clients as an extension of their business

How can we help?

By taking advantage from our specialist R&D tax credit knowledge and experience, you can be sure of securing & maximising your R&D tax claim.

Confident of delivering value to our clients, we offer our R&D tax services on a success fee-only basis
We handle your R&D tax claim from start to finish

We identify all of your qualifying projects and all your eligible expenses, including costs often missed by generic consultants
We look to work together for the long term and add value to our clients as an extension of their business

Contact us today to find out what we can do for you

Contact us today to find out what we can do for you

Contact us today to find out what we can do for you

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