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Do You Qualify?

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Investing In Innovation

Research and Development (R&D) tax relief is awarded to businesses that invest in innovation. This innovation can be in the form of developing new systems, processes, products, materials, devices, or any changes to the way your business works.

Do I Qualify?

Overview

To benefit from R&D tax incentives, you must:

  1. Be a limited company in the UK that is subject to Corporation Tax.
  2. Have carried out qualifying research and development activities.
  3. Have spent money on these projects.

Who qualifies for R&D tax credits?

R&D can take place in any sector. It occurs in everything from classic car restoration to engineering, and construction to software development.

What counts as R&D?

The government’s R&D criteria are purposefully broad. Whatever size or sector, if your company is taking a risk by attempting to ‘resolve scientific or technological uncertainties’ then you may be carrying out qualifying activity. This could include:

  1. Creating new products, processes or services.
  2. Changing or modifying an existing product, process or service.

If you’re not sure if your project is possible, or you don’t know how to achieve it in practice, you could be resolving technological uncertainties and be carrying out qualifying R&D.

Typical Process Timescales

Overview

Day 1: Initial Call

A conversation to understand if you are eligible for the benefit, where we determine if we can work with your company

Day 2: Begin the process

Initial conversations followed by gathering of technical information on your projects

First Two-weeks: Cost collection exercise

Cost collection – completed once the technical information has been gathered

End of 1st Month: R&D report submitted to HMRC

Finalised package to be submitted to HMRC – this will include the technical and financial aspects of the claim

End of month 2: Receipt of money from the revenue

Your benefit is paid out within 28 days (on average).