Claim Research and Development Tax Credits

What Are R&D Tax Credits?

R&D tax credits are a government incentive that is available for limited companies to claim, in order to get tax savings or refunds. Most claims are for everyday business activities, not just men in white coats! There is no cost unless there is a saving and you can backdate claims for 2-3 years, depending on the financial year-end.

Who Can Claim for R&D Tax Credits?

R&D tax credits are available to any limited company that qualifies under the scheme. There are lots of types of companies that qualify for R&D relief and some examples are:

  • Software development
  • Engineering
  • Recruitment Consultants
  • Insurance Brokers
  • Financial Advisors
  • Carpet and Oven Cleaning
  • Tattoo Equipment Suppliers
  • Manufacturing
  • Construction
  • Security
  • Call Centres
  • Solicitors

 

  • Insurance
  • Utilities and Telephone / Broadband
  • GDPR Compliance
  • Pensions and Investments
  • Business protection
  • IT
  • Website Design
  • Copywriting
  • Recruitment
  • Marketing
  • Property Services
  • Insolvency / Business Rescue

Find out more information about R&D tax credits and the type of companies that qualify in this case studies document.

If you are not sure whether you qualify, we will be happy to help with your R&D claim and we can discuss how the process works.

Read through our R & D FAQs below for more information about eligibility, or give us a call.

How much R&D credit can my company claim?

Small to medium businesses are able to claim 24.7% in savings on R&D costs that qualify. The amount will depend on the profit/loss position of the claiming company but the average SME claim is approximately £54,000.

What is defined as a SME for R&D tax credit qualification?

Under the HMRC guidance, a SME is a company with less than 500 employees and a turnover of under €100 (or gross assets of under €86 million).

Can R&D credits be claimed for failed projects?

Yes, you can claim for failed research and development projects.

Can individuals and sole traders claim for R&D tax relief?

No, individuals and sole traders do not pay corporation tax, so they are not able to apply for R&D tax relief.

95%

OF COMPANIES CAN CLAIM, LESS THAN 25% DO

24.7%

COSTS SAVINGS, INCLUDING PROPORTION OF WAGES AND OVERHEADS

£54,000

AVERAGE REFUND OR SAVING