Research and Development (R&D) tax relief / credits are provided by HMRC to support companies that work on innovative projects in science and technology. There are two different schemes, one for SMES and one for larger companies.
R&D tax credits are a government incentivised program to support innovation and increase spending on R&D activities for companies operating in the UK.
It allows up to 230% of a company’s R&D spend to be recovered, e.g. an additional ?130 deduction on top of ?100 spent on qualifying expenditure.
It is structured so that both profitable and loss making companies may both benefit by making a claim.
For profit making companies, your R&D entitlement may translate to a reduction in your corporation tax. For loss making entities there may be a cash refund available to you.
Any company in any industry may be eligible for R&D Tax Credits, you just need to:
* have worked on a specific project to make an advance in science or technology.
(You can claim costs going back 2 accounting periods so it may be a historic project).
* the project must relate to your company’s trade, either existing or future.
* you must be creating new products, processes or services or improving an existing one.
*part of this will include overcoming scientific or technological uncertainty, or trying to – the project does not have to be successful, it can be a failed project.
We can provide you with advance funds secured against the R&D Tax Credit, so that you can use the cash now to expand your business.
Allowing you to take control of your cashflow timeline, accessing your future R&D entitlement without waiting for the tax man.
We can liaise with your accountant or R&D specialist as much as you see fit, which together with our own expertise, will ensure not only that you have access to funding straight away but that your claim will be maximised to ensure costs do not go unclaimed.
We have a very quick and simple process, and strive to make the whole thing as easy as possible for you as we know you have a company to run! You can start right now by filling in our application form below.
We will complete some checks
We’ll send you some paperwork
The money is yours