R&D Tax Credits
If your company is investing in research and development, you could be eligible for claiming Research & Development Tax Credit. It doesn’t matter what sector you’re in or the size of your business, every investment into research and development is eligible for a tax return.
Is your business eligible for R&D Tax credits
You must also meet the necessary criteria outlined by the UK government. There are currently two types of R&D schemes in the UK; the SME scheme for small & medium-sized enterprises, and the Research and Development Expenditure Credit (RDEC) regime for large companies. The benefits differ based on the category your business falls under.
R&D Credits Explained
Claim Up to 33% of your R&D Costs
What Are R&D Tax Credits
WHAT ARE THE R&D CREDIT RATES
HOW TO CLAIM R&D TAX RELIEF
To claim R&D tax relief your business will have to showcase how their work and project:
- Attempted to achieve an advancement in science and technology (whether successful or not)
- The Business overcame uncertainty or tried to do it
- Could not be easily worked out by a professional in the field
- The work/project completed by your business must involve developing or improving a process, product or service in order to be eligible for R&D relief.Whether you own a small business in the West Midlands or a nationwide company with branches across the UK, CapEx Associates can assist you with applying for and claiming R&D Tax Credits
R&D Credits Explained
R&D tax credits vary depending on your Research and Development spend. To make an R&D credit calculation, you need to identify your “enhanced expenditure”. Once you deduct your enhanced expenditure from your taxable profits or add it to your loss, it will result in:
- A Corporation Tax reduction if you are making a profit
- A cash credit if you are incurring losses
- A combination of the two
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