What is the R&D Tax Credit Scheme
R&D tax relief is a British Government scheme to encourage businesses to invest in innovation, developing new, or improving existing products, processes, services, devices and materials or to advance knowledge in their sector.
Are you missing out?
Around 800,000 businesses are likely to be eligible for R&D tax relief, but just 8% are claiming it.
How much can you save?
Just as a rough guide, but we estimate you could save the following amounts in R&D tax relief (based on the R&D tax credit rates as of 1 January 2018).
- £50,000 – claim up to £16,675
- £100,000 – claim up to £33,350
- £250,000 – claim up to £83,375
- £500,000 – claim up to £166,750
- £1,000,000 – claim up to £333,500
- £2,500,000 – claim up to £833,750
- £5,000,000 – claim up to £1,667,500
Do You Qualify?
R&D tax relief is not just for people in white lab coats, although scientific research is eligible, but so are:
- Software development
- Reduction in waste
- Development of innovative recipes/formulas
- Development of new materials
- Improved processes
- Development of new products.
Practically anything that helps you gain a competitive advantage in a new and innovative way could be eligible for tax relief.
Costs you can Claim
- Employee costs, including gross salaries, NIC’ers and company pension costs and some reimbursed expenses.
- Subcontractor costs and employee costs of other group companies helping with the R&D.
- Materials, consumables and prototype costs.
- Software costs.
- Light, heat and rates.
Our Experts will help maximise your claim
The tax laws around R&D tax relief are complicated, and the criteria for eligibility can be ambiguous, so in order to get the largest tax relief return, you need to have the experts on your side.
Our partners are the leading experts in specialist areas of tax relief, helping clients secure tax relief for over 12 years, and identifying over £380m in tax benefit for our clients to date.
With offices throughout the UK. They have a team of over 100 in-house experts, which includes Surveyors, Tax Technicians, Accountants, Report Writers and Case Managers.
No Win, No Fee
Our partners do not charge any up-front costs, and should they fail to identify a claim for you then you will not be charged a fee at all. In other words – No Win, No Fee. There are no submission fees, so there will be no surprises when it comes to your claim being filed with HM Revenue and Customs.
All clients are offered 6-year report protection as part of the service.
How we can help
There is no risk and no obligation for your initial assessment, which will take around thirty minutes to thoroughly assess your eligibility to see if there is an opportunity for you to claim R&D tax relief.
Our partner is dedicated to ensuring a smooth claims process to minimise disruption of your day-to-day activity, so you can concentrate on your business.
All you need to do is provide is details regarding your R&D project and we’ll take it from there.
If you have any questions about the R&D Tax Credits scheme, just drop us a line and our R&D Tax Credits specialists will contact you to find out how much you can claim.