Electronics and R&D Tax Relief
Electronics engineering and design has driven advances in communications, automotive, medical, defence, aerospace, lighting, energy, marine, Internet of Things, solar power, optical systems, refrigeration, and all types of control systems from motor controllers through to robotics, process and production line control, modern cars, autonomous vehicles, home automation, wearables …..and the list goes on. Whether at component level where speed, compactness of design, power consumption, intrinsic safety, operating temperature and robustness may all matter, or at system level where processing power, connectivity, density and programmability may be critical, the research and development in this engineering sector continues to drive improvements. ….but qualifying R&D is rarely about “rocket science. In fact, many Tax Relief claims are based on much less dramatic and small system improvements. For example, size, weight, power consumption, performance, reliability; all of these can be considered technological advances and apply to most developments within SMEs and larger companies.
Can Electronics businesses claim for R&D Tax Credits?
Many hundreds of firms that apply electronics in their product design are benefiting from R&D tax credits, year on year. Their claims represent between 18% and 33% of their annual qualifying development costs. To be able to claim, you must:
- be subject to UK corporation tax
- be seeking a significant technological improvement in your component, system or process
- be incurring costs in your project developments
Our expert team of Tax Relief and Technology Consultants will hand-hold you through the entire process. We will talk your language, identify that you are eligible to claim, prepare the key documents for submission by your own Accountant, track your settlement and, on the very rare occasion that HMRC have any questions, we will support your submission. Our fees are entirely contingent on the success and size of your claim.
We offer a FREE ASSESSMENT up front, confirming your eligibility, your compliance with HMRC rules and then, guiding you through the claim process from start to finish.
How to claim Electronics R&D Tax Credits
With our support, claiming R&D tax credits is straightforward and time efficient. RandDTax are here to help you and hand-hold you through the process. We offer a fully comprehensive tax service ensuring that your business benefits from every penny you’re eligible for.
Our clients include many electronics companies who value our reputation as a full service R&D consultancy. To see exactly how we can help your company successfully claim R&D Tax credits, from start to finish, contact us today.
If you still aren’t sure, read this case study about electronic companies that have benefited from R&D tax credit claims.
Get in touch today regarding electronics R&D tax credits.