R&D Relief for SME's

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:

Qualifying expenditure

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