Research and development (R&D) claims

If your business comes up with bright ideas that make a difference to science and technology, your research and development (R&D) could bring you valuable tax benefits. At Apple Accounting Services Ltd, we can help you maximise those benefits.

What is R&D tax relief?

The R&D tax relief, or tax credits, regime was first introduced in 2000 and is available to any company developing new processes or products that advance science or technology, even in a modest way, by resolving an area of uncertainty.

R&D claims depend on the size of the company, with slightly different regimes for large and small and medium-sized enterprises (SMEs), its tax rate and activities that are eligible, such as staff costs, software and raw materials used during the R&D.

Why claim R&D tax relief?

Many companies that potentially qualify for R&D tax benefits often view the rules as too complex or feel they don’t have the resources to make a claim. Others leave it too late, as companies only have two years from the end of their accounting period to make a claim.

But the financial benefits could have a significant impact on a company’s corporation tax position. Since April 2015, SMEs have been entitled to claim R&D relief of 230 per cent of qualifying expenditure, with no minimum spend, allowing them to claim £230,000 for every £100,000 of qualifying R&D costs.

Our team can help companies of all sizes to make the most of the R&D regime. We are able to offer either a fixed or success based fee structure, ensuring that you have absolute certainty as to likely costs before we undertaken any work.

Our R&D tax relief services

By working with our team, we’ll guide you through the R&D regime, prepare your claim to help give you the greatest chance of success and liaise with HM Revenue & Customs (HMRC) on your behalf.

We can also advise you on issues like improving record keeping, so that you can better track all future activities involved in the R&D process, and the costs, so that all eligible expenditure is claimed for.

We don’t look at R&D in isolation. We will build your R&D into your business planning so that you can use tax credit benefits as part of an ongoing strategy to grow your business and keep moving forward.

For more information, please contact us.