Blog

R&D Tax Credit Relief – Things to Know Before Claiming!

Date: 28th March 2014

Research and Development (R&D) tax relief is a corporation tax credit relief that’s specifically formulated to reduce your company or organisation’s research and development costs. There are still a lot of companies not claiming R&D relief because they do not fully identify which activities or costs qualify for tax relief, or what qualifies as R&D. Research and development tax credits can go a long way in funding your business with the average claim in the UK be...
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Chancellor gives a boost to SME’s RandD in Budget

Date: 24th March 2014

It was great to hear the Chancellor is increasing the rate of the Research and Development (R&D) Tax Credit for small and medium enterprises (SMEs) who are making losses from 11% up to 14.5% for R&D costs incurred from next week (1st April 2014). The increase was announced in the recent UK Budget Statement 2014. This represents a large percentage increase, and means that up to 32.6% of what you spent on R&D can be claimed as a Tax Credit, which is a cash payment paid out in...
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3 Keys to Start your R and D Tax Claim Today

Date: 19th March 2014

Are you thinking that the extensive tax savings via research and development tax credits are worth pursuing? Then it’s the right time to claim for R&D tax relief. R&D tax credits can be successfully claimed by UK companies across all industry sectors – from builders to engineers and manufacturers to technology firms to, of course, R&D companies. Three keys to making a successful claim for R&D tax credits: Identify Whether Your Company Qualifies...
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RandDTax sponsoring the 2014 AIMS Conference

Date: 3rd March 2014

RandDTax are sponsoring the 2014 AIMS conference to be held at the Hilton Hotel Gatwick on the 12th and 13th March. We will be speaking and have a stand there so do come along and meet our consultants at the event, full details are here on the AIMS web site. Our mission is to establish a low cost operation to assist our clients with justifying and claiming for R and D Tax claims through our network of highly skille...
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Cash in on your innovations

Date: 22nd February 2014

Many companies could be missing our on the R&D Tax credits they are entitled to according to Geoff Bennett a consultant with RandDTax. We often wonder why so few companies claim research and development (R&D) tax credits. Geoff wrote an article on this which was R&D tax feature which is on the link in full. Based on our experience of helping some 300 SME clients over 11 years, we have found that many companies and their acco...
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Guidelines for companies to qualify for R&D relief Credits

Date: 29th January 2014

Imagine that you are running an Electronic company manufacturing LED lamps. You have succeeded to improvise LED lamps uniquely and efficiently by spending a considerable amount of money on its research and development. Now it’s time to claim the benefits of Research and Development tax relief provided by the HMRC, UK.Tax Relief is given as a credit, on account of R&D expenses.  The Research and Development tax credit is applicable for Sm...
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Expenses That Can Be Claimed From R&D Tax Relief

Date: 29th January 2014

Most of us may be aware of the fact that HMRA, Government of UK provides R&D tax relief. If you are preparing to claim the same, you need to basically know the expenses that account for claiming research and development tax credit. First and foremost your company and project must meet the definitions set out by the Department for Business, Innovation and Skill (formerly known as Department of Trade and Industry (DTI) to qualify for R&D tax relief....
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Simple Steps Towards Successful R&D Tax Relief Claims

Date: 6th January 2014

The experience of completing a successful UK R&D tax credits claim should be straightforward however, gathering and presenting the technical details to support the claim can be a tough challenge for accountants. 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...
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Why do so few companies claim R&D Tax Credits?

Date: 20th June 2013

We often wonder why so few companies claim R&D Tax Credits and based on our experience of helping with more than 1000 qualifying projects, for close to 300 SME clients over 11 years, is that many companies and their advising accountants simply do not recognise when they do R&D. Because of this, less than 0.50% of SMEs actually claim R&D Tax Credits. This is a real shame. Why is this? Many companies do not appreciate the full scope of what is R&D. This can l...
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Accountants meet the RandDTax team at Accountex

Date: 10th June 2013

RandDTax exhibited at Accountex which was held at Excel in London last week and met up with a number of accountants over the course of the event. We obtained some great feedback from our visitors about the difficulties that accountants face when trying to decide for different types of clients whether they may have a valid claim for R and D tax credits or not.Here we see some of our consultants meeting accountants on our stand at the event.
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