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R&D Tax Credits

Posted on 21st April 2016 by

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Helping you get the most out of your innovation

Are you aware of the Governments R&D tax credit scheme designed to provide significant financial incentives to companies engaged in innovative activities in the fields of science and technology?

Does your company actively develop new technology and products, seek solutions to challenging technical issues, look to enhance existing techniques and processes by seeking further efficiencies and advances in capabilities or processes? If so then your company could well be undertaking eligible R&D activities that will enable it to qualify for the generous tax incentives available.

What are the benefits?

The R&D scheme works by allowing an enhanced deduction for R&D related costs in your company’s tax computation. From 1 April 2015, small and medium sized entities (SMEs) can deduct 230% of their qualifying expenditure against their profits or can surrender the enhanced R&D deduction for a repayment of tax if it results in the company making a tax loss. The precise size of the tax credit will depend upon the size of the company, and its tax rate but as a general rule SME’s can now claim back up to 33% of eligible costs. Larger companies with more than 500 employees receive an uplift of eligible costs to 130% and can claim back up to 7.8%.

Eligible costs

Companies can claim R&D Tax Credits for their annual revenue expenditure on:

  • a relevant proportion of the costs of employing staff actively engaged in the R&D activity
  • materials used and consumed in the R&D activity including energy costs
  • certain payments to third parties who provide staff to assist in the R&D process

Our approach

We have considerable experience in making R&D tax credit claims across a variety of industries. Our aim is to not only submit the best possible claim for your company but also to educate the relevant people within your organisation so that they can maximise and spot future opportunities and develop internal systems to capture relevant R&D cost data to assist with future claims.

If you feel you may be undertaking development work in order to achieve some kind of technological advance then please have a chat with us and we can quickly explore whether you may be eligible for the relief.

For further information and advice on claiming R & D tax credits please email 

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