What are R&D Tax Credits
If you are an innovative business you can get cash back from HMRC thanks to R&D Tax Credits.
R&D Tax Reliefs are a scheme put in place by the UK Government which allows SMEs to reclaim up to 33% of the amount they’ve spent on Research and Development – even if you make a loss.
The average SME claim in the UK is £45k.
DOES YOUR COMPANY QUALIFY FOR R&D CREDITS?
- <500 Employees and <$100M Turnover
- <$86M Assets
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.
HMRC’s guidelines include a very wide range of technical advancements.
Receiving grants can limit the amount of R&D credit you receive and your eligibility for the SME scheme.
How we can help you
We can help you get these benefits by identifying qualifying costs, preparing a robust report and submitting it to HMRC.
What costs can you claim as R&D?
- Cost of Staffing
- Subcontracted R&D
- Consumable Items
- Software Tools
- External Workforce
Try the R&D Tax Credits CalculatoR
Don’t miss out on the opportunity to recoup some of your investment costs from HMRC.
It’s simple, Just click on the appropriate boxes and then use the slider to set your estimatedR &D spend.
The calculator will automatically show how much you could be eligible to claim.