R&D Tax Credits are part of a Government scheme that allows SMEs to reclaim up to 33% of the amount spent on Research and Development – even if you make a loss.
The average SME claim in the UK is £45,000 and covers items such as:
- Staffing Costs
- Subcontracted R&D
- Consumable Items
- Software Tools
- External Workforce
You may potentially qualify for R&D Tax Credits if you have less than 500 employees and a turnover of less than £100 million, or you have Assets of less than £86 million.
But first 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.
We have a great track-record in working with HMRC and understand the complexities of their requirements.
R&D Tax Credits Calculator
Don’t miss the opportunity to recoup some of your investment costs from HMRC. Use the calculator to see how much you could be eligible to claim. Just click on the appropriate boxes and then use the slider to set your estimated R&D spend.
Based on the budget announcement on the 17th November 2022 the R&D tax credit legislation is due to change and become less generous for SMEs. We will update this page with more information as soon as we have the detail.