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R&D Tax Credits

The R&D tax credit scheme is an HMRC incentive designed to reward your innovative ideas.

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Capital Allowances

a form of tax relief that applies to commercial property and the fixtures, plant, equipment etc.

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HMRC Disputes

We offer a helping hand, support and protection to clients and their advisors alike.

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What are R&D tax credits?

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Research and Development (R&D) tax credits are an incentive to reward companies engaged in innovation. A UK tax relief, R&D tax credits can provide valuable funding for any company spending money on developing new products and process or improving existing ones. This relief can give your business the opportunity to claim back a proportion of your R&D expenditure as tax credits, which can reduce your tax bill or increase taxable losses. No matter the sector, if you’re spending money on research and development, then you could be eligible to claim R&D tax credits.

You could be eligible to claim R&D Tax Credits If you are a UK business that has invested in innovation and completed research and development.

Does My Business Qualify?

Three ticks means your company can claim R&D.

Are you a limited company trading in the UK?

Do you carry out qualifying R&D activities?

Have you spent money on these?
 

Types of R&D

SME Scheme

If you have less than 500 employees in your company and/or group and less than €100m turnover you are eligible for the SME scheme

  • A 130% uplift is applied to your R&D costs leading to a tax reduction of £24.70 for each £100 spent on R&D if you make a profit;
  • Loss making? you could receive a cash payment of £33 for each £100 of R&D expenditure;
  • Claims can go back two full years resulting in a repayment of corporation tax already paid.

RDEC Scheme

You are eligible for the RDEC scheme (formally Large Company Scheme) if you have over 500 employees in your company or group or more than €100m turnover.

  • No minimum R&D Spend;
  • No upper limit on claims;
  • From April 2020, Above the Line Credit, is mandatory with a benefit of £10.50 per £100 on R&D;
  • Repayable credit now possible for large companies;
  • Can still access the 30% uplift scheme for previous tax years.

How much can I claim?

R&D Tax Credit Calculator

The easiest way to calculate R&D tax relief is by using the calculator

Do you have more than 500 employees and turnover exceeding €100million?
No
How much have you spent on R&D? £1,000
What was your profit the same year? £0
Our upfront fee
Always £0
You could receive a payable tax credit of
£189
Cashback from investment in R&D
18.85%
Start Your Claim

This calculator is intended as a rough guide for understanding how R&D relief corresponds to expenditure. This should not be relied upon in determining specific R&D calculations. Please note that the calculator uses the current corporation tax rate of 19%.

What Costs Qualify for R&D Tax Relief?

eligible-cost

Staff costs

Software

Heating

External Workers

Clinical Volunteers

Partments to Third Parties

Independent research

Indirect Costs

Our Process

Our friendly team will guide you through the entire R&D claim process, working on your behalf, allowing you to concentrate on the day-to-day business. Our process has a proven track record for delivering excellent results as well as a fully defensible claim.

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Why Choose Us?

100% Success Rate
Zero claims rejected by HMRC
Payment by results only
No-fixed term contract
Fully managed service
Technology specialists
6-8 weeks to claim
Award-winning service

Ready to apply?

If you’re ready to apply for R&D tax refund, please call us on the freephone number below or use the contact form and one of our helpful team will be in touch to help.

By completing the above contact form you consent that Tax Bright can contact you with regard to an R&D Tax Credits claim and use your details during any future claims.

Your details will not be used for any other purpose and you can request us to stop contacting you by using one of the methods listed in the privacy policy