R&D tax credits power innovation and growth for over 76,000 UK businesses.
In 2000 HMRC introduced a scheme that incentivises UK companies to invest in innovation.
Companies are able to get up to 33% of their R&D spend back, in the form of a cash payment or tax reduction.
France, Germany, USA and Canada have similar schemes.
FUND GROWTH IN YOUR BUSINESS
Over £4.4BN was paid out to SME businesses last year.
Each year, around 18,000 companies claim R&D tax relief for the first time, with average claim sizes of £57,330.
If you’re claiming for the first time, you can do so for the past 2 years of expenses.
DESIGNED FOR ALL UK BUSINESSES.
R&D is broader than you think, it can take place in any sector.
If your business is creating new products, processes or services, or improves existing products, processes or services, you could be eligible.
Our specialists will work with you to identify the relevant spend.
R&D Tax Credits Explained
Designed for UK businesses of all sizes, in all sectors.
HMRC has made the criteria broad to encourage all types of companies to claim, including smaller ones. Even if your project is still ongoing, or your innovation attempts were unsuccessful, you can still recoup up to 33% of your investment as an ‘SME’ and up to 13% as a larger company.
Your company is...
A UK limited company subject to corporation tax- Turning over less than £86 million
- Employs less than 500 people
- Spending money on R&D
Your eligible costs are...
- PAYE staff, and all associated labour costs
- Subcontractors (for the SME scheme only) and freelancers
- Consumables such as utilities, raw materials
- Technical software, such as CAD design systems
Your R&D project involves:
Creating new products, processes, software, services or devices.
Improving existing products, processes, software, services or devices.
Duplicating an existing product, software, service or device. As long as details of how the original was created are withheld as a trade secret.