What fuels research and development (R&D)? Innovation! The sheer act of looking for something new stems from trying to do something better or fix a current problem, what other reason would there be to develop anything new or do any further research? We’ve written an article below of five new technologies coming of age this …
R&D in focus: Five new technologies coming of age this decade Read More »
Can R&D tax relief be a lifeline for your business? Small and medium-sized enterprises (SMEs) are the lifeblood of the UK’s economy so don’t let the name fool you. According to the Department of Business, Energy and Industrial Strategy (BEIS), 99.9% of the UK’s business population are SMEs, which means large businesses only make up …
How R&D tax relief can help alleviate financial strain due to Coronavirus Read More »
What do connected companies mean in the R&D tax credit scheme and how having connected companies impact an SMEs R&D Tax Credit Claim, things you should know.
For a business to successfully claim R&D tax relief benefits, it needs to understand what are the qualifying costs. HMRC has a specific guideline of the type of costs that are eligible and not eligible for the R&D tax credit. Depending on whether a company is loss-making or profitable, a small or medium-sized enterprise (SME) can receive between 14.5% and 33% of its R&D cost back as cash or tax credit. Overall, direct and externally provided staff, subcontracted R&D, consumables, energy costs, software, trials, prototyping and independent research may all qualify for R&D tax relief. Costs that are not eligible are production and distribution of goods and services, marketing, payments for the use and creation of patents/trademarks, cost of land and hosting, as well as capital expenditure.
A company that is undertaking innovative research and development work may be eligible to claim R&D Tax Credit under one of two schemes Research and Development (R&D) tax credit is a valuable government tax initiative that is designed to encourage and reward companies investing in R&D projects that will help further knowledge in a given …
All you need to know about RDEC vs SME R&D Tax Credit, and what’s the difference? Read More »
