Research & development tax relief claims

Eligible for tax relief on your R&D activities? We can help you make a compelling case to HMRC.

Research & development tax relief claims
"If we knew what it was we were doing, it would not be called research, would it?" Albert Einstein

Einstein definitely made a good point. However, if you want to claim enhanced tax relief against your company's R&D activities, you'll need to make a strong case for your research to HMRC. You'll need to demonstrate that your business innovates, improves or develops a product, service or process that is designed to advance knowledge by resolving general scientific or technological uncertainty.

Is my business eligible for tax relief?

·         There's no minimum expenditure to qualify for R&D tax relief

·         There's no need for your company to have its own dedicated R&D department or to operate in any particular business sector.

  • Qualifying small to medium-sized enterprises (SMEs) can claim tax relief at the enhanced rate of 230% on R&D spending. This includes the cost of staff, materials, utilities and computer software - equivalent to a tax saving of 45% of your R&D spending.
  • SME’s that don't pay corporation tax can instead claim a payable tax credit equivalent to 32.625% of the relevant expenditure.
  • The project must be related to your company’s trade or a trade your company intends to start up subject to the results of the R&D.

How do I make a claim?

As experts in handling R&D tax relief claims, we can help you make sure your claim meets HMRC's specifications, which include an explanation of:

  • the scientific or technological advance sought
  • the scientific or technical uncertainties involved in the project
  • how you overcame these uncertainties
  • why the knowledge sought was not readily deducible and therefore required R&D.

Get in touch

For a free initial consultation, contact Jonathan Parsons: jonathan@bsrb.co.uk

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