R&D Tax Credits and Relief
R&D tax relief is a government incentive aimed at encouraging companies of all sizes and in all sectors to invest in innovation by allowing companies to claim enhanced tax relief on qualifying costs. These incentives take the form of tax credits or tax relief against eligible R&D investment.
R&D tax credits can reduce a company’s tax bill or, for some small and medium sized companies (SME’s), provide a cash sum. The tax credit allows companies to deduct up to 225% of qualifying R&D expenditure when calculating their profit for tax purposes. SME’s can, in certain circumstances, surrender the tax loss generated to claim a cash payment HM Revenue and Customs, which is a valuable source of funding for early-stage companies.
We believe that technology based industries, a thriving science base and advanced manufacturing capabilities are essential to the future prosperity of the economy. This requires constant innovation and the R&D tax credit scheme is an important source of support for innovative projects.
To date over £2 billion in support has been claimed by UK businesses, but this still represents a substantial shortfall on the R&D carried out in industry. Many companies are unaware that they qualify or believe that the claims process is onerous. Our aim is to provide the resources and technical expertise to enable all companies, and in particular SME’s, to claim their full entitlement.
Call me back