Tax breaks for innovation
Since its introduction in 2000, we have handled numerous claims for Research and Development (R&D) tax relief on behalf of clients, as well as successfully dealing with a number of enquiries from the specialist R&D units at HMRC.
R&D tax relief is currently one of the UK's most generous tax reliefs. Small and medium sized companies can obtain tax relief of 225% of expenditure on R&D or, alternatively, - where the company is not in profit - a cash repayment of 12.5% can be obtained from HMRC.
Large companies can obtain relief of 130% on R&D expenditure.
We help companies to identify qualifying R&D expenditure and then prepare and submit the necessary claims to HMRC. We can also liaise with them to resolve any initial queries and will happily work alongside your existing advisors if necessary.
Any type of business can claim R&D tax relief, even if the project was ultimately unsuccessful. Examples of businesses where we have made successful claims are:
- Technology companies.
- Online software sellers.
- Electronics firms.
- Engineering companies.
- Pharmaceutical industry organisations.
- Transport businesses.
- Manufacturing and retail outlets.
Under current legislation, a company's tax returns for the last two years can be revised so you should contact us if you have unclaimed R&D relief in respect of previous years.
We are pleased to offer a free review of your company's expenditure, in order to determine whether or not you qualify for R&D tax relief.
For more detail on how we would work to help you, contact Phil Taylor and Martin Dunne.