Your business might be eligible for a Research and Development claim

If your business has engaged in a project that is looking to achieve and advance in science or technology, it is deemed to be carrying out Research and Development (R&D)

Eligibility for R&D

We help you to find out if you qualify?

The R&D Report

We compile a comprehensive report

The basic requirements

What you need to qualify for SME R&D Relief?

Qualifying expenditure

What expenses are eligible for relief?

Time Limit

How long do you have to make a claim?

Eligibility for R&D

First, we would ask you questions to check to see if you were eligible for R&D relief which allows £2.30 to be deduction against taxable profits for every £1 spent. So worthwhile.

Once we have established that your business is eligible for R&D we will collect information from you on the project(s), people involved and more.

R&D Report

We will create an R&D report which highlights the R&D and the relief being sought. We will go through this with you for you to sign off.

Claiming the R&D relief

Once the R&D report confirmed it will be sent to HMRC and the tax relief or reclaim will be applied but HMRC.

If there are any HMRC queries about the R&D report, we will speak with HMRC.

The basic requirements in order to qualify for SME R&D Relief are:

  • A project focused on and issue that needs resolving
  • Intention for an advance in science or technology
  • Project relates to the businesses trade either an existing one or one it intends to start based on the R&D results.
  • Explanation of how the project(s) are looking to overcome uncertainty surrounding the advancement to be achieved
  • Issue not easily overcome by a professional working in the field
  • It can still be an advance if the process, product or service has been developed by another company, but it is not publicly available.
  • A project being eligible can research or develop a new process, product or service or improve and existing one.

Qualifying expenditure

  • Software used
  • Staff costs of those involved
  • Consumables and other items used in the project
  • Externally provided human resources (65%)
  • Outsourced R&D costs (65%)

Also, R&D allowance allowing for full relief for qualifying expenditure

Time Limit

Time limit is 2 years from the end of an accounting period which corresponds to the corporation tax return deadline.

SME (small medium sized enterprises) definition

An SME is a company if 

  • Less than 500 staff members
  • Turnover below EUR 100m or balance sheet total below EUR 86m

Talk to us about your R&D claim today

We can help assess your business and improve it's eligability