Research And Development (R&D)

Research And Development Tax Credits

We assist clients in identifying and claiming Research and Development (R&D) tax credits as soon as possible; however, claims can be made retroactively for the previous two accounting periods.

Where businesses undertake qualifying expenditure on Research and Development, they either receive an enhanced deduction against their taxable profits (small and medium sized entities) or a Research And Development tax credit (large entities or SMEs) and either regime can result in a cash repayment.

Our services in the UK on Research & Development claim typically involve:

  • Feasibility studies around R&D claim;
  • Identifying all potentially qualifying R&D activities or projects;
  • Helping businesses identify costs to claim R&D tax credit;
  • Producing a detailed R&D claim on your behalf;
  • Review of current processes and advising if any changes required;
  • Defence of existing claims taken into enquiry by HMRC;

Submitting your claim and helping with repayment of corporation tax where appropriate.

If part of your company remit is to carry out research and development (R&D), you may be eligible for tax credits reducing your company’s tax bill. This Research And Development tax relief is ultimately geared toward problem solving businesses.

Limited companies financing new products, new organic process research and development or making significant improvements to existing products and processes may be eligible. For tax purposes, the definition of R&D is intentionally broad.

The Research and Development Expenditure Credit (RDEC) scheme was introduced in the Finance Act 2013. RDEC enables companies with no corporate tax (CT) liability to benefit through a cash payment or a reduction of tax or other duties due.

We have helped several clients to identify if they are eligible to claim and meet the criteria laid down by HMRC in the UK, before helping them claim their R&D tax credits. Tax credits claimed ranged from a few hundred pounds to tens of thousands of pounds.
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