What Are R&D Tax Credits?

R&D tax credits are a government incentive designed to encourage innovation across multiple industries.


R&D Tax Credits

The R&D tax credit is a government incentive that encourages innovation in many sectors. This is an opportunity for you to get a reduction in your corporate income tax or receive a refund from HMRC based on the number of hours your firm spends on Research & Development.

SME's may claim back up to 33% of the expenditures connected with R&D.

Frequently Asked QUESTIONS

In 2000, the government implemented a Research and Development incentive to stimulate British firms to invest in Science and Technology. It is a method of rewarding companies from all sectors by allowing them to recoup some of the money they spent on developing new ideas.

Yes – The goal of R&D is to promote innovation, not just completed or successful projects.

We’ll take care of all the formalities for you.

Get the money you’re entitled to as quickly and easily as possible.

Use our expertise to get the finest possible outcome.

You will only be charged if your application is approved. Enjoy a first-rate service from our experienced staff

When you make a phone appointment, one of our expert staff will go through your company and any qualifying R&D projects with you. If you’re not sure what qualifies, don’t worry; we’ll know what to ask to determine that out.

Our specialists can help you determine how best to proceed depending on your circumstances. Once we’ve received all of the pertinent details, we’ll be able to submit your claim within 1-2 working days. After HMRC receives our application, they are typically paid in 4-6 weeks.

The Research and Development Scheme is only open to certain firms in the United Kingdom – you must be a limited company. However, if your firm does a lot of research and development, going limited may be beneficial. This is something we can help you with.

The amount you may claim for would be different based on your company’s size. SMEs can receive up to 33% of qualifying expenses under the Small and Medium-Sized Enterprises (SMEs) Scheme. A credit rate of 8.8 percent is available for large businesses under the Research & Development scheme.

No, they can’t – Only firms responsible for Corporation Tax (limited companies) can claim Research & Development Tax Credits.