Research & Development

Research and Development(R&D) relief is a corporation tax relief that can significantly reduce your company’s tax liability or even result in a cash repayment from HM Revenue & Customs.

Research and development relief

Read our Research and Development Tax Credits Guide

With effect from April 2015, the maximum reliefs in respect of qualifying expenditure available to small and medium enterprises (SMEs) will go up from 225% to 230%. Along with payable credit of 14.5%, the increased rate will mean that companies can receive over £33 of cash from HM Revenue & Customs for every £100 of qualifying spend. There will also be a rise from 10% to 11% in the rate of the R&D Expenditure Credit for large companies, resulting in an increase in benefit from 8% to 8.8%.

What constitutes R&D?

  • A project that seeks to achieve and advance in science or technology.
  • An advance is achieved where a scientific or technological uncertainty is resolved.

Uncertainties exist when knowledge of whether something is scientifically or technologically feasible is not readily available or deducible by a competent person in the field.

Needless to say the savings can be extensive and with the right tax advice the process is relatively straight forward.

We have proven experience of successfully preparing and agreeing R&D claims across a number of sectors including manufacturing, engineering, software and technology.

To find out more about our R&D services, please contact us on 023 9248 4356.

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