The scope for R&D is huge, as it applies in almost every sector. To benefit from R&D tax credits, you must be a limited company in the UK that is subject to corporation tax and have carried out qualifying R&D activities which you have spent money on.
The financial benefits could have a significant impact on your company’s corporation tax position. You may be able to claim R&D relief of 230 per cent of qualifying expenditure (with no minimum spend), meaning you may be able to claim £230,000 for every £100,000 spent on qualifying R&D costs.
If your company is currently making a loss, you can claim a tax credit which can be worth as much as 33.35p for each pound of R&D expenditure and bring an immediate cash flow advantage.
Our R&D experts understand the rules surrounding R&D tax credits, ensuring we can maximise your claim. Our team will guide you through the R&D regime, prepare your claim so that you have the greatest chance of success and liaise with HM Revenue & Customs on your behalf, advising and supporting you throughout the claims process.
For more information about how we can help, get in touch.