Research and Development Tax Relief Scheme
In 2000 the government introduced a scheme to encourage scientific and technological innovation within the United Kingdom.
R&D is a Corporation Tax (CT) tax relief that may reduce your company’s tax bill if your company is liable for CT or, in some circumstances, you may receive a payable tax credit.
Who is eligible for Research and Development (R&D) Tax Credits?
Any company in any industry may be eligible.
The key is that the company must be undertaking development activities that seek to achieve advancement. These include:
- Creating new products, processes or services.
- Changing or modifying an existing product or service.
What Qualifies as R&D Activity?
You need to prove to HMRC that your project achieved a technical or scientific advance by overcoming an uncertainty that other professionals in the field could not easily work out.
Do we have to be making a profit / paying corporation tax in order to make a claim?
No, the company can be in a loss position. These losses can then be utilised (i.e., not carried forward for tax relief in the future) and the company receive a R&D cash refund, without paying any corporation tax.
Why Choose Us?
Our Partner’s team of consultants are experienced at asking the right questions first time around to ensure that with minimal input we can get maximum results.
Their software processes are unique and compliant, and that enables us to process claims in the least amount of time.
They have maintained 100% success rate with all claims filed across a broad spectrum of Industries.
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