What is R&D Tax Credit?
Helping your business thrive
R&D tax credits reward and encourage scientific or technological advancements and improvements, by supporting companies that work on innovation projects, helping them reinvest in further innovation and growth.
Reducing your tax bill
Basically, R&D tax credits (R&D tax relief) are a corporation tax relief that helps reduce your company’s tax bill, in many cases reducing it to nil, and gives you money back from HMRC.
Don’t be put off by the term ‘innovation projects’, as all types of companies across all sectors could be eligible through projects and activities that improve or create new products, services, processes, devices or materials.
Why outsource your R&D tax credits claim?
Why not do it yourself or get your accountant to do it?
HMRC’s strict criteria and parameters for R&D tax credit claims are complex and time-consuming to complete. For us it is our day-job, our speciality – our expertise and experience will not only free up your time and focus, but also maximise claim accuracy and entitlement.
Claiming R&D tax credits is not just about numbers, there needs to be a real understanding of what represents innovation and an advance in your business and sector – something you wouldn’t expect from your accountant. Our R&D Specialists have extensive cross-sector and business experience, which will maximise your claim.
Successful or unsuccessful projects
The costs incurred could qualify your business for R&D tax credits
- Time and salaries of direct R&D staff
- Externally provided R&D staff
- Subcontracted R&D
- Consumable items
- Software directly used
- Clinical trials volunteers
- Contributions to independent research
55% of eligible SMEs are still not claiming R&D tax credits that they are entitled to
What could your claim be?
The average UK R&D tax credit claim for an SME is around £53,876.
Imagine how an additional £53,876 could help fuel your business growth and development.