R&D Tax Credits

Does your company work on innovative projects in science and/or technology? You might be eligible to claim Research and Development support. The Research and Development (R&D) reliefs support businesses that research or develop an advance in their field; in turn, you may be able claim Corporation Tax relief. There are different types of support depending on the size of your company, and if the project has been subcontracted to you or not. These reliefs have replaced what was known before as the large company scheme reliefs.

Can I claim?

Not sure if you qualify? The best way to make sure is to speak with an advisor. The scope of the relief is large, and so can seem confusing. Letting an expert do the heavy lifting is advised, but in essence, you can claim if you satisfy the key criteria.

Key criteria include:

FAQs

How much tax relief will I get?

It depends on the size of the company, its profitability, and the amount of qualifying R&D expenditure that it has incurred.

What do the credits allow companies to do?

With the tax credits, you’ll be able to claim back a proportion of the R&D costs as a tax credit or cash payment, depending on how big and how profitable the company is.

What can I claim for?

To make a claim for R&D Tax Credits, you need to provide details of your R&D project expenses.

These expenses can include:

The Process

An introduction

This is to check your eligibility and is to learn about you and your business and check that your claim for R&D tax credits is eligible. This can be done via a phone call.

Onboarding and further call

Our onboarding process is designed to be fast and hassle-free. After setting up your account, we’ll schedule a call to gather necessary information and prepare your claim documents.

Review

After preparing your claim documents, we will send them to you for review. Once you approve the documents, we will submit them to HMRC on your behalf.

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