Energy
Energy R&D Tax Credits
The energy sector contributes around £28bn to the UK economy each year. However, it could be argued that every other sector depends on the energy industry.
After all, being without power could have a devastating effect on many businesses. An efficient , well developed energy sector is vital to any country.
And the energy sector is ripe for benefits from R&D tax credits. Innovations such as renewable energy, smart meters and more efficient power grids can all benefit from energy R&D tax credits.
If your business is involved in developing any new products or processes in the energy sector, you could be eligible to claim these incentives.
These can fund many of the expenses connected to developing new products or processes, such as:
- Staff costs
- Software expenses
- Sub-contractors
- Consumables
Your energy R&D tax credits incentive can take the form of a direct cash payment or a reduction in corporation tax. Claiming R&D tax credits can help support growth and innovation in the energy sector, to ensure that the UK continues to grow.
Can I claim energy R&D tax credits?
At RandD Tax, we offer a FREE ASSESSMENT to identify if you can make a claim for energy R&D tax credits. We will then be able to decide which scheme you can make your claim under, and process the claim with HMRC. We will be available to answer any questions you may have, from the initial assessment to your final payment.
Our expert team of tax consultants have the skills and experience needed to process your claim with HMRC, ensuring that you get your R&D incentive as quickly as possible.
If you aren’t sure if you are eligible to claim for energy R&D tax credits, the best thing to do is to contact us. However, put simply, you can claim R&D tax credits if:
- Your business is a limited company, subject to corporation tax
- It takes part in researching or developing new products or processes – or improving existing ones
- It spends money on these projects
At RandD Tax, we have helped hundreds of businesses, across many sectors to claim the r&d tax credits they are entitled to.
How to claim energy R&D tax credits
We understand how important the energy sector is to the entire UK economy. That is why we are here to help your business claim the tax incentive they deserve, leaving you to concentrate on running your business.
With RandD Tax, you can be confident that your energy R&D tax credits claim is being processed by experienced, highly trained tax consultants. We will work tirelessly to ensure your business gets the funding available to develop and grow.
Contact RandD Tax today to find out more.
Or read this case study about how R&D tax credits can improve energy efficiency.
Get in touch today regarding energy R&D tax credits