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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RandDTax exhibiting at Accountex

Date: 20th May 2013

RandDTax will be exhibiting at the Accountex Exhibition which is coming up shortly at Excel in London on the 6th and 7th of June. Accountex is the UK’s only national exhibition for accountants and finance directors working in practice, business and the public sector. It offers an unparalleled opportunity for financial professionals to gain expert insight and education within a live environment. The show debuted on 22-23 November at Olympia in London, attracting 2,776 accou...
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R&D Tax Relief for Web Developers

Date: 16th April 2013

Website Developers should certainly be claiming any R&D Tax relief for the software development element of their work such as e-commerce, database management, intranet integration and other similar activities.So, should you be claiming? 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 creat...
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Can Construction Industry suppliers claim for R&D Tax?

Date: 9th April 2013

You could be a manufacture of cladding or building materials which have unique properties. You have developed these and continue to improve their performance or ease of manufacture. Maybe you design and manufacture tools or machinery used by trades people. Perhaps you design and manufacture frames or doors or component parts used in the construction industry. Whatever you do, here are the basic rules. If they apply to you, then you should get advice… A...
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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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R and D Tax relief for an Electronics Manufacturer

Date: 22nd March 2013

We’re an Electronics Manufacturer – should we be claiming R and D Tax relief? Almost certainly yes! Just ask yourself these questions: Do you carry out development work in order to win sales?Do our designs present us with some uncertainties at the outset?Do we spend time testing, trialling or solving these uncertainties?Do we spend pre-production time creating a manufacturable product from the bench design?Are our designs inno...
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