R&D Explained

What are R&D Tax Credits and who qualifies.

What are R&D Tax Credits?

R&D tax Credits are a government incentive designed to stimulate growth and reward innovation to companies in the UK. The scheme has been running for over a decade and due to its success, has now been guaranteed until 2032. In a nutshell, if a business is spending money developing new products and trying out new things, then they’re entitled to money back from HMRC whether this be in the form of a cash payment or money off existing and future corporation tax.

How do they work?

Put simply, companies who spend time and money developing new products, processes, or services; or bettering/simplifying existing ones are entitled to a percentage of this spend back from HMRC. Depending on a company’s Tax position they can claim back anywhere between 19% and 33% of eligible spend back as either a cash injection or money off their corporation tax bill. This is an invaluable scheme that allows companies to reinvest in their business and continue their growth.

Who Qualifies for R&D Tax Credits?

Contrary to popular belief, the scheme is not solely targeted at people wearing white lab coats fiddling with test tubes; it’s much broader than that. As long as you are a limited company spending money on innovative projects and solving industry problems then there’s potential for you to make a claim. Essentially, anything that helps a business gain a competitive advantage in a new and innovative way could be eligible for tax relief. It’s always worth exploring the potential as the average claim value nationwide is around £25,000.

Who Qualifies for R&D Tax Credits?

Contrary to popular belief, the scheme is not solely targeted at people wearing white lab coats fiddling with test tubes; it’s much broader than that. As long as you are a limited company spending money on innovative projects and solving industry problems then there’s potential for you to make a claim. Essentially, anything that helps a business gain a competitive advantage in a new and innovative way could be eligible for tax relief. It’s always worth exploring the potential as the average claim value nationwide is around £25,000.

Testimonials

"We just wanted to say a massive thank you for helping us complete our recent R&D tax claim, you have helped us for a few years now but as always you make the process so simple and easy. Thanks to you we have now reduced this years corporation tax bill by three quarters. We have recommended your services on many occasions to other businesses and will continue to do so. The feedback we get from people we have referred you to is fantastic and it’s a massive credit to you and your organisation, we look forward to working with you for years to come."
Barrow Electrical
"To R&DTaxCredits.org, I wanted to send this testimonial for your work on our R&D Tax return. We never thought we had a claim for R&D but after a call, you said there may be scope to make a claim based on some of the work we do. You effortlessly reviewed several projects that we do and suggested we had a claim that we could back date two years later. Last week we received a payment over £5,000 which we would never have had without your knowledge and support. I could not be happier with how simple you made the process and thank you for your patience waiting for details from me! We have already collated evidence for this year’s claim and wouldn’t hesitate to recommend you!"
Empine Group
With the help of R&DTaxCredits.org, a Signage company based in Preston, Lancashire has received just over £16,000 for their efforts in innovation and problem solving. The family run business offer a full design and install service for signage in an array of products such as vehicle graphics and wrapping, shop signs, graphics, boards, and banners. The qualifying projects included solving problems on site; making alterations to designs to suit a specific setting; and research into how different materials, glues and paints react when used together. This cash injection will allow the company to invest in themselves and continue to grow.
Lancashire Signage
“I’d like to thank Dan for all his work in the background securing us a R&D tax credit. As a company we were unaware of the fact we could claim tax back on the research and development part of our business and had always accepted it of as an expense we could do nothing about. However, after a short conversation with Dan, we decided to ask R&DTaxCredits.org to act on our behalf and this has ended up with the refund by the tax department being paid into our bank. I wish we’d investigated this years ago as the amount was almost £29,000, which makes the amount we pay in tax a little more tolerable.”
Acorn Electrical Supplies
"We’d like to thank Dan and the team at R&DTaxCredits.org for helping us with our recent R&D claim. After a challenging year with COVID and uncertainty in the construction market, a large cash injection was exactly what we needed to ensure we could continue paying suppliers on time and continue with current works with no financial restrictions. With the help of Dan’s team we were able to claim over more than £70,000 back for our innovations and we couldn’t be happier. We wouldn’t hesitate to recommend R&DTaxCredits.org and we will continue to use their service in future."
SJH Renovations

Get in touch

Get in touch today to start your claim or for any questions you may have.