Your Company could be eligible to claim

R & D Tax Credits

Research & Development Tax Credits is a UK tax incentive scheme created by the UK Government to encourage companies to invest into R&D.  Companies can lower their Corporation Tax bill, or claim cash back as a proportion of their R&D expenditure.  

If a company is creating new products, new processes and services, or modifying existing products to improve performance there is a good chance that the company

qualifies for R&D Tax credits. R&D can take place in any sector regardless of company size. It could be in everything from a bakery to a chemical engineering company, construction to software development. . 

The expertise of an R&D professional is the ability to identify qualifying activities by talking to the client. R&D exists in every single sector, however it does need technically skilled people to identify and maximise 

We can help you if:

·       Are a UK Limited Company

·       Have traded for at least 12 months

·       Aren’t sure if you qualify for R&D

·       Are already claiming but could claim more

Engineering and Manufacturing Equipment Finance

R & D Tax Credits - Key Points

  • This scheme is fully approved and supported by HMRC.
  •  A separate unit within HMRC has been set up to assess the claims.
  • Businesses can claim for R&D activities for the previous 2 years and then each subsequent financial year
  •  The scheme is for UK based Limited Companies, either profit or loss making.
  • Our in house specialist R&D tax credits consultancy has maintained a 100% success rate.

  •  We work on a no-win-no-fee basis, and only charge you when the claim is fully approved by HMRC.
  • The claims process has been refined to quickly identify qualifying elements.
  • Our aim to process client claims within 4–6 weeks, unless there are circumstances outside of our control.
  • We work alongside a client’s existing accountants and not “in place of”.

What is R & D

‘R&D’ is not R&D as you may perceive it to be; you don’t have to employ scientists, work in laboratories, or do things that no one else in the world is doing. R&D from an HMRC perspective means some sort of scientific or technological development must be taking place whether that’s for internal purposes (e.g. development of software / new internal processing system), or whether the company is developing products to sell in the open market.

The advance can simply be an appreciable improvement on existing technology; it does not necessarily have to be brand new, blue-sky or involve men in white coats. 

Finance for the 3D printing industry

How much can a Limited Company get back from HMRC?

• Depending on the Limited Companies profitability the tax credit is paid as follows:

Profit making company: for every £1 spent on qualifying expenses, HMRC give a credit of 24.7p 

 Non-profit making company: for every £1 spent on qualifying expenses, HMRC give a credit of 33.3p

Following the Chancellor’s Mini Budget on 17th November 2022, rates will be reduced from April 23.

R&D Qualifying Activities

Step 1 – Discovery and feasibility stage:

  • Ideas capture – Those who have the brainwave, or field sales engineers who come up with client requirements –Qualifying.
  • Technical feasibility – Gathering of technical information, internet research, research of peer studies, material research and selection – Qualifying.

Step 2 – Concept and design stage:

  • Project team – Those involved in the project both strategically and directly –Qualifying.
  • Proof of concept – Technical design and analysis of ideas – Qualifying.
  • Modelling design – CAD build and initial modelling; may include subcontracted work at this stage – Qualifying.
  • Pre-testing – Testing the design and ensuring that all bases covered – Qualifying.

Step 3 – Prototype and testing stage:

  • Prototype / Alpha or Beta copy – Direct involvement by R&D team / developers / engineers / scientists / testers –Qualifying.
  • Further prototype build – Work done to iron out faults and further advances – Qualifying.
  • Field trials – Further testing of the prototype in real environment and simulation tests including site visits and subcontract testing, but excluding pure QA – Qualifying.
Step 4 – Qualifying indirect activities:
  • R&D team admin – Any direct involvement by admin staff on admin for R&D team. Dedicated staff only –Qualifying.
  • R&D team maintenance – Cleaning and maintenance for R&D separately identifiable – Qualifying.
  • R&D team payroll – Dedicated staff only – Qualifying.
  • R&D team security – Extra security provided for R&D Team – Qualifying.

The average claim is £50K and.. No Claim No Fee

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