R&D Tax Relief

R&D Tax Relief

R&D tax relief is an incentive for all UK companies to be more innovative and creative thus giving a competitive edge.  R&D has a far wider definition that many may think and only a small proportion of companies in the UK are claiming R&D tax relief due to lack of awareness as to what can be claimed.

If you’re making scientific or technological advances you may be eligible to claim R&D tax relief. If you think that this may apply to you, please get in touch and we can go through all the details with you. We’ll identify relevant projects and prepare detailed calculations as well as full report which is submitted to HMRC with your corporation tax return.

If you pay UK corporation tax, R&D tax relief reduces your corporation tax bill, which can also result in a tax refund. If the company is in a loss making position a claim can be made for R&D tax credits or alternatively higher losses to carry forward or back.  This can relieve pressures on cash flow and give the opportunity for further investment.