R&D TAX RELIEF

The helping hand for your R&D Tax claims.

We assess the eligibility of any potential R&D claim, ensuring that the project meets HMRC’s requirements. We also generate robust reports to support the relevant claim.

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R&D Tax Reliefs.

Research and Development (R&D) reliefs support companies that work on innovative projects in science and technology. They can be claimed by a range of companies seeking to research or develop an advance in their field and can even be claimed on unsuccessful projects.

Does my project
qualify for R&D?

The definition of R&D is much broader than you may think. In fact, most eligible businesses are unaware that they’re even conducting it, so it’s always worth checking to make sure.

How the Scheme Operates.

Our expert accounting team can advise you on the most tax efficient way to deal with your R&D tax relief.

Profit-Making

If you’re running a profit-making business, the enhanced expenditure will be deducted from your profits, reducing your Corporation Tax accordingly.

Loss-Making

Whereas, if you run a loss-making business, losses can be carried forward or back, or they can be surrendered for a 14.5% tax credit (mixture of both can be utilised in certain circumstances).

SME R&D Tax Relief

You can claim this if you’re a small or medium-sized enterprise (SME) with less than 500 employees and have a turnover of under 100 million euros, or a balance sheet total under 86 million euros. You may need to include linked companies and partnerships when you work out if you’re a SME.

R&D Expenditure Credit

You can claim this if you’re a large company working on a Research and Development project. It can also be claimed by SMEs and large companies who have been subcontracted to do R&D work by a large company.

From 1st April 2023

During his Autumn Statement, the Chancellor announced the following changes to companies that carry out Research & Development (R&D) and claim R&D Expenditure Credit (RDEC) or the R&D tax relief for small and medium (SME) sized companies.

• The measure increases the rate of tax credit for companies that carry out qualifying R&D and claim the RDEC. The current general rate of 13% will be increased to 20%.
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• The additional deduction for claims within the Small and Medium Sized Enterprise Scheme will be reduced from 130% to 86%.
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• The rate of the SME payable credit rate which can be claimed for surrenderable losses will be decreased from 14.5% to 10%.

The changes will apply to expenditure incurred on or after 1 April 2023.

What our clients say...

We practice what we preach. Take a look at the kind words from our fantastic clients below.

Get Started in 3 Simple Steps...

Enjoy a streamlined approach from the very beginning. Follow the steps below to get in touch with us.

1. Book a discovery call.

Chat to a member of our team to discuss your accountancy needs.

2. Initial consultation.

Agree services to be performed and meet your new designated Account Manager.

3. We take care of the rest.

Whether you are a new business or existing, we will liaise with your previous accountant or HMRC on your behalf to make sure you are on the right track.

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