R&D Tax Credits for Small & Medium-sized Enterprises
Service One
R&D tax credits enable companies that incur costs in developing new products, processes or services to receive a cash payment or tax deduction.
R&D tax credits can therefore be an incredibly valuable source of funding for many businesses.
The R&D tax credit scheme is a HMRC incentive designed to encourage innovation and increased spending on R&D activities by companies operating in the UK. The Government has expressed its desire to make the UK the most attractive place to start and invest in innovative companies and as a result the incentives for companies to innovate have continued to improve.
For SMEs, from 1 April 2015, the R&D tax claim enhancement (the enhanced deduction) was increased to 225% of the qualifying R&D expenditure incurred.
R&D tax credits can therefore be an incredibly valuable source of funding for many businesses.
The R&D tax credit scheme is a HMRC incentive designed to encourage innovation and increased spending on R&D activities by companies operating in the UK. The Government has expressed its desire to make the UK the most attractive place to start and invest in innovative companies and as a result the incentives for companies to innovate have continued to improve.
For SMEs, from 1 April 2015, the R&D tax claim enhancement (the enhanced deduction) was increased to 225% of the qualifying R&D expenditure incurred.
What costs can be claimed?Subject to meeting the necessary criteria, costs such as payroll, software, materials, utilities & subcontracting could all feature in a successful R&D claim.
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For what periods can I claim?
You have 2 years from the financial year end date in which the costs have been incurred to make a claim.
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Who can claim?R&D can apply to any business in any sector. It is more likely to be found in manufacturing, engineering, software development, biotech or pharmaceuticals but successful claims have been made in construction, transport, agriculture and countless other sectors.
Please contact us and we can refer you to our specialists who will be happy to carry out a no obligation initial assessment. |
