research & Development Tax Relief
Are you eligible for tax relief?
Do you undertake research and development? If so, your business could be eligible to receive thousands of pounds in tax relief.
We are specialists in the Research & Development Tax Relief and have submitted many successful claims for clients, either enhancing the tax relief available or receiving a tax credit paid by HM Revenue & Customs directly to our clients.
The opportunities for making a claim are often overlooked with business owners and many non-specialist accountants overestimating the level of innovation required to claim. Projects qualifying for Research & Development Tax Relief include those seeking an appreciable improvement in science or technology.
Do you pay to solve technical problems?
If you do you may have scope to claim. Examples of this would include:
Modifying a manufacturing process
Developing bespoke software
Creating a new product or improving an existing one
Eligible companies can obtain tax relief on qualifying expenditure reducing taxable profits or creating (or increasing) tax losses which can be sacrificed to HM Revenue & Customs in return for a cash repayment.
The relief available is generous and an SME incurring £100k of qualifying costs could save in the region of £25k in tax. Claims can go back two financial years, so first-time claimants can particularly benefit.
Summary of Research & Development Tax Relief for SMEs
|Tax Year||Enhanced Deduction*||Payable Credit (loss-making)|
We’re Here to help
We focus on making the claims process simple for you. Initially, we will assess your potential eligibility before identifying qualifying costs completing the process and necessary submissions to HM Revenue & Customs on your behalf.