We know you are going to have questions, hopefully below are some simple answers for you …

What is R&D Tax Relief?

It is an incentive scheme introduced by The Government to help UK businesses to develop, grow and expand. It is a potential cash refund or a credit against your corporation tax. The team at R&D Specialists work with you on a no win no fee basis to establish if you are eligible for this incentive from HMRC.

Does my Company qualify?

Every company large or small, could qualify and it does not matter what market sector or industry you are in. RDS can quickly determine if you qualify in any area of your business for R&D relief.

If you employ 1 to 500 people, the allowance is currently 130% of any eligible spend on R&D. For large corporate businesses that employ more than 500 people and has a turnover of more than €100 million it is 230% of the eligible R&D claim.

Your first claim can be for a period of two years. In other words, while in your 2017 accounting period, we can process your R&D tax relief for 2016 and 2015. After the initial two-year claim, R&D tax relief claims can be submitted annually.

What can I claim for?

Staff salaries, employer’s NIC and pensions or a percentage thereof.

Expenditure on potential R&D work carried out by third parties on your behalf.

The cost of materials and overheads that are used as part of your R&D projects.

Expenditure in developing IT programs including the new software to run these programs.

How do we make a claim?

R&D Specialists has created a simple to understand process which will be tailored made to your business that meets the most stringent requirements by HMRC.

We would make an initial visit to your business to see if your company meets these requirements before progressing on a no win no fee basis.

How do we Analyse your business?

Our specialized team will scope your business in detail to look for any qualifying expenditures.

One of our specialist advisers will visit your business to fully understand what you do and gather all relevant data. This will allow us to identify the full extent of your qualifying activities and costs to ensure that we maximise your claim.

How do we work with HMRC?

RDS produces a detailed document that describes your R&D activity, together with a calculation of your total claim, which we will submit to your accountant so that they may submit it to HMRC on your CT600.

R&D specialists will take care of any HMRC queries immediately to ensure minimal delays in your claim.

Your accountant will make an amendment to your corporation tax return (CT600). HMRC normally take between four and six weeks to process a claim.

If your business pays corporation tax this can be reduced or if you have already paid your tax you will receive a repayment. If you have not made profit in the period you will receive a payment from HMRC for the allowance on your R&D activities.

Contact Us to speak to an R&D Expert