Research & Development Tax Credit

What is it ?

It is an incentive scheme introduced by The Government to help UK businesses to develop, grow and expand. It is a potential cash refund or a credit against your corporation tax. Our Tax Dept work with you on a no win no fee basis to establish if you are eligible for this incentive from HMRC.

Do we qualify ?

Every company large or small, could qualify and it does not matter what market sector or industry you are in. We can quickly determine if you qualify in any area of your business for R&D relief.

If you employ 1 to 500 people, the allowance is currently 130% of any eligible spend on R&D. For large corporate businesses that employ more than 500 people and has a turnover of more than €100 million it is 230% of the eligible R&D claim.

How do we make the claim ?

Our team will scope your business to look for any qualifying expenditures. They will visit your business to fully understand what you do and gather all relevant data. This will allow us to identify the full extent of your qualifying activities and costs to ensure that we maximise your claim.

Claims may be made retrospectively, up to the 2nd anniversary of the end of company financial year. So the cash injection can be significant within a relatively short period of engaging with us.

We assist clients in identifying, scoping and preparing R&D claims, which then become part of the tax computation and tax return submitted to HMRC.

If your business pays corporation tax this can be reduced or if you have already paid your tax you will receive a repayment. If you have not made profit in the period you will receive a payment from HMRC for the allowance on your R&D activities.

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