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.

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Is your business eligible for R&D Tax credits

Many UK businesses are unaware of how much they are truly entitled to, whether tax credits, refunds, exemptions, reliefs or business grant funding. To qualify for R&D tax credits, you must:

CRITERIA 1

Be a limited company in the UK that is subject to corporation tax.

CRITERIA 1

Be a limited company in the UK that is subject to corporation tax.

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

The R&D tax credit scheme was introduced in the UK in 2000 to encourage UK companies, both in profit or loss-making, to invest in R&D projects through the development, evolution or innovation using science and technology. The government realised that encouraging innovation is a way of improving productivity, performance and competitiveness in the UK.

Claim Up to 33% of your R&D Costs

R&D Credits

What Are R&D Tax Credits

Research and development (R&D) tax credits are a government incentive rewarding UK companies that invest in the innovation of products, services and/or processes. It’s a valuable source of income that helps businesses accelerate R&D, hire new staff and encourage company growth.

R&D Rates

WHAT ARE THE R&D CREDIT RATES

Current R&D tax credit rates mean SMEs can claim up to 33p for every £1 on qualifying R&D activities while large companies can claim up to 10p on every £1 spent. The average cashback to companies is around £50,000 and most companies don’t even realise that much of what they do is eligible.

R&D Claim

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

Businesses that spend money on developing/improving products, services or processes can claim R&D Tax Credit in the form of cash awards or corporate tax reductions.
R&D Tax Credits can be awarded to businesses in any sector, which is why the qualifying activities can range from developing products in a laboratory to refining specific manufacturing processes. The activities need to be carried out with the aim to advance science and technology and the project shouldn’t be easily solved or completed by a professional in the same field.

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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