Companies that spend money developing new products, processes or enhancing existing ones, may be eligible for R&D tax relief.
If you’re spending money to overcome a scientific or technological uncertainty, which cannot be easily resolved by a competent professional, you can make an R&D tax credit claim to receive either a cash payment and/or corporation tax saving.
What are R&D tax credits?
Research and Development (R&D) tax credits are intended to encourage UK companies to invest in innovation.
R&D for tax purposes takes place when a project seeks to achieve an advance in science or technology through the resolution of a scientific or technological uncertainty.
Qualifying expenditure on R&D activity can be converted into an R&D tax credit. This can benefit both profitable and loss-making companies.
We prepare R&D tax credit claims and supporting documents for submission to HMRC and will guide you through the process of claiming tax reductions, repayments or tax credits.
Companies that spend money developing new products, processes or enhancing existing ones, may be eligible for R&D tax relief.
If you’re spending money to overcome a scientific or technological uncertainty, which cannot easily be solved by a competent professional, you can make an R&D tax credit claim to receive either a cash payment and/or Corporation Tax reduction
Eugene O’Neill FCA CTA
Managing Partner
The hurdle is around scientific or technological uncertainty. Our view is if you don’t know you’re doing R&D then you’re probably not doing it.
The scheme is there to reward genuine innovators, which are the businesses we are associated with.