Does my business qualify for R&D Tax Credit claim?

Many business owners are either unaware of the potential benefits of R&D tax credits, mistakenly think they are difficult to qualify for, or simply don’t think the scheme will apply to their business.

Don’t fall into this trap. Research and development isn’t all about scientific experiments, conducted by people wearing white coats. It’s very likely your business is already doing a lot of the activities required to make successful R&D Tax claims.

Who is eligible for R&D Tax Credit claim?

Of course, scientific research is eligible and it’s a sector based on continuous research and innovation, but so are activities such as:

  • Improved processes
  • Software development
  • Reduction in waste
  • Innovation in automation
  • Development of innovative recipes or formulas
  • Development of new materials
  • Development of new product

The definition of R&D, for tax purposes, is much wider than traditional activities taking place in R&D centres and laboratories. R&D may occur in a range of industry sectors, such as Oil and Gas, Engineering, Food, Automotive, Building and Construction, Mining, Utilities, Pharmaceuticals, Biotechnology, General Manufacturing, IT/Software,Financial Services and many more.

Here's one question to ask yourself, and if the answer is yes, you’re likely to have a claim "Do you feel that you are trying to innovate and investing time and/or money doing so?"

  • You could be developing new products, new services, new processes, new devices or new materials – or enhancements in any of those areas.
  • You could be developing new manufacturing processes, applying science or technology in an innovative way.
  • You could be doing the same with any operational processes – often involving ICT.

R&D begins with the desire to achieve a competitive advantage, which involves resolving scientific or technological uncertainties – and ends when the advance has been achieved, and all the uncertainties are resolved.

How to make a R&D claim

Getting your head around the tax laws can be exhausting, and the claim process can be complicated. That’s why to have the best chance of a successful claim, you need a specialist on your side.  Our R&D experts will guide you through the process, from looking at the eligibility criteria, to carrying out the claim for you. Yes, we also deal with HMRC directly on your behalf.

There’s no risk attached and the initial assessment will only take around thirty minutes of your time. We’ll thoroughly assess you and if we can’t see an opportunity for you to claim R&D tax relief, you walk away without spending a penny. Here's what to expect.

1. Assessment

We’ll set up an initial call to find out more about you and talk about our tax claim process. Our team can work with whatever systems and records you have in place.

Our specialists are proactive and do all the heavy-lifting so that you don’t have to. We can also deal with your accountant directly to obtain your accounts and payroll information.

2. Analysis

We then go away and identify all potential R&D tax credits and find out what’s available to you.

We’ll leave no stone unturned and figure out every relevant qualifying cost. Our specialists will determine the full extent of your R&D claim.

3. Proposal

Our specialists will create a detailed report of what you can claim. We'll look at your research, and see how what your business compares to the R&D tax credit requirements.

Each claim is unique, so no two reports are the same.

4. Submission

We’ll deal directly with HMRC so you don’t have to worry about the submission of the Corporation Tax Return (CT600), which includes your R&D tax credit calculation.

Our specialists will follow up with HMRC to check for any updates on your claim. If any problems arise, we’ll happily deal with those too.

Get the credit you deserve and fuel your growth

R&D tax incentives have the power to transform your business. Speak to a specialist today.

0800 2808982