R&D Tax Credits
The City of Leeds is renowned for its diverse technological developments in the manufacturing, digital and creative sectors. At RandDTax we’ve helped hundreds of businesses claim Research & Development tax credits; from start-ups to SME's and large companies (RDEC).
Whether you’ve recently developed new software or come up with an innovative new product, your business could very well be entitled to make an R&D claim.
Our experienced consultants are there to guide you through the claims process to help you identify what incentives and benefits are available. At R&D Tax, we offer exceptional value by providing a full service R&D tax consultancy on a no win no fee basis
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The short answer is to contact us!
These 3 questions to help guide you on whether your project qualifies for R&D tax credits;
- Does your company develop new products, processes, services or materials, or develop science and technology to enhance existing ones?
- Does your company set out to achieve an advance in scientific or technological knowledge or capability?
- Does your project involve and technical or scientific uncertainty that a professional in your field cannot readily resolve?
If your project can answer yes to all these questions then it’s worth investigating further if you have an R&D claim.
Each ‘cost’ has specific rules around the correct treatment. However, some notable costs you can claim R&D credits include; staff costs, software, consumables and sub-contractors.
Yes! Explore our claims calculator to discover how much an R&D claim might be worth for your company.
Where the corporation tax rate is 19% a claim that just generates tax relief is worth 24.7% of qualifying costs, and R&D Tax Credit Claim is worth between 18.85% & 33.35% depending on the tax position. RDEC is worth 9.72% assuming it is payable after caps and offsets. Try our free estimator tool to find out more about what you could potentially claim.
This is the big question. We cover it on this website in the R&D Tax Claims section, but this is not exhaustive. If you think you might qualify, message us using the form below and we can get the conversation started.
HMRC do not have a KPI for claims involving tax relief, payment times depend on the processing speed of your Corporation Tax Office. These are generally good, and 4-6 weeks is not untypical. For an SME payable R&D Tax Credit the KPI is 95% in 28 days. HMRC, in recent years, 2018 & 2019, have not been achieving this and claims have been taking 12-16 weeks to get paid. No KPI exists for RDEC and recent processing has been very slow.
Yes, the SME scheme allows loss making companies to claim and have the choice of either a payable R&D tax credit or carrying a loss forward.
Yes, for SME claims only, they matter. If an SME receives a State Aid for an R&D project, then receiving £1 of State Aid means that none of the project costs can be included in an SME R&D claim. If a grant is not a State Aid (not awarded or administered by the state, like an EU Horizon 2020 grant). The award of a grant to a large company does not impact its ability to claim under RDEC.
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