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Do I qualify for R&D tax credits?

This is an important question that we believe a lot more businesses need to be asking. Answer a few simple questions to get a quick indication of whether you may be eligible.

How much could I claim?

Sectors we've supported

Where's your R&D lab? Where do you solve problems?

 

Whatever sector you're in, if you're working to improve your product, process or service through technical changes or developing an idea which isn’t available elsewhere then theseare all indicators that your project qualifies as R&D.

Think of of it this way: if competitors would take the credit for your innovation if they could then it's worth looking into making a claim.

How do R&D Tax Credits work?

It's a very individual process, naturally, but in practical terms the scheme means you could be seeing a return of up to 33% of your qualifying costs. Here's what you need to know right now:

  • The average claim for SMEs is £54,000
  • It encourages and rewards innovation in business
  • You could get up to 26% of qualifying costs back
  • Unlike the other tax reliefs, the government actively wants you to claim it
  • When your claim is approved your business can choose how you are awarded it – a refund or future tax relief

Depending on your circumstances, your R&D tax credit can take the form of a reduction in your overall Corporation Tax bill, a repayment or an R&D tax credit cash refund if your business made a loss.

Don't worry if your solution didn't work out, even failed or abortive projects can be included in a claim.

R&D Tax Credit Schemes

Qualifying costs

Even businesses who know about R&D Tax Credits often aren't aware of everything they can claim. With the right help and an expert eye for detail, the R&D Tax Relief scheme is the single biggest boost your business can get.

  1. 1

    Employee costs

    All people working on the projects

  2. 2

    Subcontracted R&D expenditure

    Costs of subcontractors for R&D activities

  3. 3

    Software

    Software needed for the project

  4. 4

    Materials

    The actual, physical materials your project uses

  5. 5

    Utilities

    The water, power & fuel used by your project.

Speak to us

Our technical teams specialise in hunting down all your qualifying R&D costs and turning them into a serious financial boost for your business.

Get in touch