R&D New Claimants

We assist clients across all industries in discovering if they are eligible for R&D tax credits.

We assist clients across all industries in discovering if they are eligible for R&D tax credits.

What are R&D tax credits?

Research and Development (R&D) tax credits are intended to encourage UK companies to invest in innovation.

R&D for tax purposes takes place when a project seeks to achieve an advance in science or technology through the resolution of a scientific or technological uncertainty.

Qualifying expenditure on R&D activity can be converted into a R&D tax credit. This can benefit both profitable and loss making companies.

We prepare R&D tax credit claims and supporting documents for submission to HMRC and will guide you through the process of claiming tax reductions, repayments or tax credits.

Tax Benefits

Section

How much could you receive?

Estimated qualifying R&D expenditure

£50,000 £1,000,000

Section

Your R&D tax credit could be up to

£
Lets get started

Sometimes when our new clients hear the words ‘Research & Development’ they think of white coats, test tubes or cutting-edge software development. They often make the assumption R&D does not occur in their sector. Quite often this is just not the case.

Many companies out there are regularly solving technical problems using innovative solutions and they are therefore entitled to claim R&D tax credits.

Eugene O’Neill CTA, ACA

Managing Director

Does my business qualify?

In broad terms, to qualify you must:

Be a limited company subject to UK Corporation Tax;

    • Have developed new products or processes; or
    • Have tried to improve existing products or processes.

Have sought to overcome a “scientific or technological uncertainty”; and

Incurred expenses in the process.

Discussion around the “scientific or technological uncertainty” should be sought with an R&D expert.

Speak to us for a Free Consultation.

Are you missing out on R&D Tax Credits? Get in touch today to speak to one of our experts.

Lets get started

What are the benefits?

Qualifying companies can benefit from this incentive in the form of a:

  • repayable tax credit,
  • repayment of previously paid tax; or
  • reduction in future tax liabilities.
SME Profit Making SME Loss Making RDEC (Large Company)
Tax Saving - Up to 0% 0% 0%
Example R&D cost £0 £0 £0

Tax benefits differ between companies which are either claiming as an SME or a Large Enterprise (RDEC).

How to claim?

Our process consists of Six Key Steps.

Introduction

Consultancy team introduction and key claim stakeholder identification. Previous R&D claims assessment and delivery timeline agreed.

Technical discovery

Exploration of potential areas for optimising R&D qualifying activity, detailed project examples and discussion, identification of all eligible projects and cost categories.

Technical scoping

Review and discussion of all eligible projects, selection of key projects for claim substantiation.

Financial Discovery

Exploration of expenditure categories, R&D project expenditure data provision, financial document provision.

Claim package

Compilation of technical and financial documentation, internal quality audit and resolution of queries.

Submission

Final documentation sign-off, tax benefit option agreement, detailed submission guidance and additional submission support.

Discussion around the “scientific or technological uncertainty” should be sought with an R&D expert.

Speak to us for a Free Consultation.

Are you missing out on R&D Tax Credits? Get in touch today to speak to one of our experts.

Lets get started

Lets Get Started


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