R&D Claims
Alongside our specialist R&D partner, we can support you with R&D claims to help your business get significant tax credits from HMRC.
What is R&D?
The Research and Development (R&D) tax credit scheme was designed to encourage businesses to innovate within this industries by allowing them to claim tax relief on eligible R&D expenditure. The SME R&D tax credit scheme allows companies to claim back up to 33% on their eligible R&D expenditure.
What expenditure qualifies for R&D?
R&D isn’t as narrow a definition as you may assume and it isn’t just science labs and tech companies that claim R&D. Activity including creating new products, processes, software or services, as well as modifying existing ones can qualify for R&D. The types of expenditure includes:
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How can Easy R&D and The Smart Accountants help?
The Smart Accountants have partnered with Easy R&D who are R&D specialists and their expert consultants have helped their clients get an average of £54,000 tax credit per claim. Easy R&D work by offering a free consultation to support your understanding and establish if you could have a claim. We’ll then work to ensure that they have all the data that they need, which they’ll then analyse to ensure that all eligible costs are included before they submit your claim. The final stage will then be HMRC crediting your business.
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HMRC pauses certain R&D repayments whilst it investigates irregularities
Why are there delays? Many R&D advisers have noted HMRC’s current delay in processing R&D claims. HMRC has concerns that the R&D tax relief schemes are being abused and they are grappling with how best [...]
What is R&D?
Research and development is generally well understood as a concept. Yet, it's somewhat misleading to label the UK's tax relief scheme as 'R&D' tax relief, as many incorrectly think it only applies to research-specific companies. [...]
The Next Steps
If you’d like further information or to discuss your R&D claim, please get in touch and one of our experts will be happy to talk to you.
Please call us on 0845 606 9632, email us at team@thesmartaccountants.co.uk or complete the contact form below.
