R&D Tax credits

What is the R&D tax credit scheme? 

R&D tax credits are a UK HMRC scheme designed to support businesses that have spent money on innovative projects. 

Many businesses don’t realise they qualify for R&D tax credits or that they are not claiming their full entitlement.

Who can qualify for R&D tax credits?

Any UK company that is limited and is subject to Corporation Tax payments, R&D can take place in any sector. It occurs in everything from care homes, construction and hospitality, to engineering, farming and digital development.

The scope for identifying R&D across all sectors is huge. And if you’re making a claim for the first time, you can typically claim R&D tax relief for your last two completed accounting periods.

R&D tax credit processing times

Our team of specialists work closely with you in order to efficiently gather the information that we need in order to analyse and write up your claim. This usually entails a few phone calls with key members of your team. HMRC aims to process R&D tax credit claims within 28 days. So, if you make an R&D tax credit claim, you can expect to be reviewed and paid out relatively quickly.

How to apply for R&D tax credits

90% of businesses that qualify for R&D tax credits fail to make a claim. Of those that do claim, many will either try and do it themselves or use their accountant. When conducting reviews on behalf of businesses that take these two routes, we typically find that businesses are significantly underclaiming due to a lack of knowledge of the scheme.

Our team have over 15 years experience in making successful claims across a variety of businesses. Our intricate knowledge and understanding of the system enables us to successfully deliver claims that are higher than the national average.

In order to claim R&D tax credits you must:

• be a limited company in the UK that is subjected to Corporation Tax.
• have spent money on qualifying research and development activities.