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R&D Answers: What is R&D for Tax Credit Purposes?

Date: 23rd July 2018

The scheme R&D Tax Relief is available to UK Ltd companies, using science or technology as part of an innovative process/product.  There are two variants of the scheme – large company (RDEC) and small company, with the boundary being approx. 500 employees in the company or group of companies. Small companies that have received subsidies or...
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Things to Know About RandD Tax Relief in UK

Date: 9th June 2014

Research and Development (R&D) Tax Credits are UK tax incentive designed to encourage companies to invest in R&D. Companies can reduce their R & D tax bill or claim payable cash credits as a proportion of their R&D expenditure. R&D Tax Credit is a reliable HMRC scheme which can help innovative companies to recover up to 25% of their costs. Are you developing new products or enhancing a manufacturing processes? If so, your business may be eligible to claim R&D ta...
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Who have we helped recently?

Date: 12th May 2014

Since we started RandDTax in September 2012, and up to April 2014 our 27 Consultants have handled close to 500 claims for more than 230 companies throughout the UK, gaining them in excess of £7.5m. RandDTax addresses the issues on a national level, to the benefit of innovative SMEs and the entire UK economy.Help SMEs assess qualification, scope R&D work and justify claims. In the last fifteen months RandDTax has helped more than 160 companies make first claims. T...
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Helping to fund innovation

Date: 2nd April 2013

R & D Tax – Helping to fund Innovation According to the latest government statistics more than 8400 SMEs have benefitted from R&D Tax Credits by an average of in excess of £43,000 – and since then the rate at which R&D Tax Credits are paid has increased by more than 60% and qualifying conditions are now much less stringent than they were. There has never been a better time for SMEs to invest in developing new products, processes, services, devices or mat...
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I am a web site designer, can I claim R&D Tax credits

Date: 25th January 2013

Well here’s how you can tell. First, ask yourself a few quick questions: Do we spend time designing web based applications rather than just creating websites?Do we consider that our web based applications are creative and innovative?Do my software developers have to trial, check out possible solutions and experiment before we have a satisfactory stable and working web based application?Are we constantly trying to offer more competitive and innovative solu...
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R&D Tax Credits – Are you claiming your full entitlement?

Date: 18th January 2013

The Average SME claim, as stated by HMRC in their latest released stats covering the fiscal year to end March 2011, is just over £40K We are constantly surprised when SMEs tell us that they have claimed R&D Tax relief, or rather that their Accountant has claimed for them, and that the amount is much less than this. When we ask “how did you calculate this figure?”. the answer is a quick 5 minute conversation with the Accountant, finger in the air and a guess...
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Video – What Are R&D Tax Credits?

Date: 23rd April 2012

What Are R&D Tax Credits? An Interview with Terry Toms, R&D Specialist – Terry provides answers to those tricky questions on what UK R and D tax credits are, the kind of projects that quality for R and D tax credits and the amount you can claim. This is the first of a two part interview. Part 1 – covers What are R and D Tax Credits and how do you claim them? How do claims differ where a company is in profit or where they made no p...
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R&D Answers: What Is The Claims Process For R&D Tax Credits?

Date: 4th March 2012

What Is The Claims Process For Research And Development Tax Credits? The claims process is part of the normal treatment of providing the necessary annual accounts information to HMRC, and the qualifying expenditure should be shown as an adjustment to the profit figure on which tax is calculated. Only the qualifying figure is needed for tax purposes, but you should maintain a record of how that figure has been calculated, and be prepared to show back up documentation such as pa...
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R&D Answers: What Do We Do at R&D Credits … And Not Do?

Date: 4th March 2012

What Do We Do And Not Do To Help You With Claiming Your Research And Development Tax Credits? Our role is to investigate the scope of your R&D work, make sure you understand the qualifying scope, review the technical aspects of qualifying projects and help you produce draft justifications for submission with the Corporation Tax claim. We do not take over the role of the accoun...
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R&D Answers: Will The Coalition Government Scrap R&D Tax Credits?

Date: 7th February 2012

Are Research and Development Tax Credits Under Threat From The New Coalition Government? The Conservatives originally announced that they would scrap Research and Development Tax Credits. However, a few weeks before the election, and following their Dyson Review on Innovation, they announced that they will not scrap the scheme. In fact in a...
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