• What are R&D Tax Credits?

Companies incurring cost developing new products, processes or services; or enhancing existing ones, could be eligible for a cash payment and/or Corporation Tax reduction.

Funding Innovation

The R&D Tax Credits scheme was established by the UK government to promote innovation and global competitiveness. Any limited Company, organisation or plc who is registered for, or paying Corporation Tax in the UK can claim irrespective of whether they are making a loss or not.

How much company time and resources were spent trying to develop projects with technological uncertainties involved?

Scientific or Technological Advance

If your UK company has developed a new product/service or process, or sought to materially enhance an existing one and there has been technical innovation and some form or risk (i.e. the outcome was unclear), it is likely that you will be eligible to claim R&D tax credits. From HMRC’s perspective, they want to know what the scientific or technological advance was that you sought to create on your product/service/process.

If eligible, you could claim R&D tax relief for your last two completed accounting periods. E.g. Companies in their 2019 accounting period, can claim R&D tax credits for 2018 and 2017.

Calculation

R&D Tax Credits relief is calculated based on your R&D expenditure. Qualifying spend is identified and enhanced, which is then either deducted from your taxable profits, or added to your loss. This results in a Corporation Tax reduction if you were profitable, or a cash credit/payment if you were loss-making.

Research and Development (R&D) is undertaken by businesses in all sectors in the UK – it’s not all lab coats and robots.

Scientific or Technological Advance

If your company is taking a risk by attempting to ‘technological, technical or scientific uncertainties’ then you may be undertaking qualifying activity, whatever size or sector your company is in.

Is your

  • Financial Services
  • Oil, Gas, Wind & Solar Power
  • Defence
  • Technology or Software
  • Manufacturing
  • Digital Agency
  • Construction, Architecture or Engineering
  • Food & Drink
  • Pharmaceuticals & Biotech

business missing out on R&D Tax Credits?



Apply online and start your R&D Tax Credits claim today.

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Call us today on 0333 050 3995 and find out whether you could claim compensation on your R&D innovation.

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0333 050 3995