Research &
Development Relief
Research and Development Relief is a government scheme set up to reward businesses that invest
in innovation in the UK. We work with companies to identify R&D activity and submit successful
claims. Our vision is to be active, dynamic and fully diversified R&D tax specialists, who remain
true to their core values. Delivering simple solutions for complex situations.
Our Services
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Research & Development
What is
Research &
Development
Relief?
Research and Development Relief (R&D) is a tax credit that was introduced by the government in 2000 to encourage scientific and technological advancement and to reward businesses that invest in innovation across the United Kingdom. Yet only 20% of eligible companies claim this relief.
HMRC’s criteria is purposefully broad. If your company is attempting to resolve scientific or technological uncertainties, then you may be carrying out qualifying R&D activity.
This Could Include:
Designing New Products
Creating New Processes
Establishing New Services
Changing or Modifying an Existing Product
Adapting an Existing Process
Transforming an Existing Service
Even if your project was unsuccessful, you may still qualify. You can also include work undertaken for a client, as well as your own projects.
R&D Within
Your Industry
R&D can take place across a broad range of sectors. HMRC have purposefully kept the criteria broad for what constitutes R&D activity so that as many sectors as possible can benefit from this relief. If your company is seeking to resolve scientific or technological uncertainties and is taking risks, then you may be carrying out R&D activity.
Manufacturing
& Engineering
R&D activity includes product development, production line speed and resource improvement, quality control and compliance.
Construction
Construction sites typically face unforeseen difficulties and have to adapt, innovate and experiment in order to overcome these obstacles.
Agriculture
R&D tax claims can come from process improvements, production improvements, scalability and quality control.
Software
There is often a strong case for R&D tax relief in the software sector.
Pharmaceuticals
Companies within this industry can use these claims to help develop and test new products, materials and technologies.
How much is
the Average
R&D Claim?
For successful projects, small to medium enterprises can claim back up to 33 pence in every £1 spent on qualifying activities relating to that project. The average amount for a qualifying claim is currently approximately £53,000.
The reason UK government awards this relief is because it benefits when companies increase their productivity, typically, for every £1 that is paid out via the scheme, £3 is generated into the economy.
Is Your Company
Eligible?
With 80% of companies still uncertain if they may qualify for R&D Tax
relief, there are 7 simple questions you can ask yourself to find out if you
could be eligible.
Have you ever developed new products or processes?
Have you changed the way you work within the last two years?
Have you changed the materials you work with within the last two years?
Have you adapted or modified an existing product or process
within the last two years?
Have you ever had to change your products or services due to
regulations or accreditation?
Have you developed your own IT system, or adapted an off-the-shelf solution?
Have you ever attempted a project that undertook a risk element where the outcome was uncertain, resulted in failure or abortive work?
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Our Range of Services
Stamp Duty
Land Tax
We assist in reviewing both upcoming and historical property transactions to ensure the correct SDLT consideration is applied.
Capital
Allowances
We can review your capital expenditure to ensure you maximised the tax reliefs available.
Land Remediation
Relief
We analyse land purchased that has been contaminated and advise on any costs reclaimable.
Pensions
We can assess your property pension portfolio to ensure the correct SDLT consideration was applied.
Property
Incorporation
We can help to structure your property portfolio correctly which can potentially result in significant tax savings.
Enquire Today!
We’re well positioned to help with any of your tax enquiries, call or email the team to find out more.
Call Us 0121 309 0222