Research and Development Tax Credits
The UK R&D Tax Credit scheme is a UK Government / HMRC scheme designed to encourage companies to invest in Research & Development.
First introduced in 2000, the UK R&D Tax Credit scheme is a UK Government / HMRC scheme designed to encourage companies to invest in Research & Development and has enabled more than 42,000 companies to benefit from nearly £11.5 billion in tax relief and cash rebate for work they have undertaken in developing new products, new production/manufacturing processes and new software / IT developments.
There are two schemes:
- SME Scheme (companies with under 500 employees and either an annual turnover not exceeding €100 million or a balance sheet not exceed €86 million).
- The LARGE Scheme applies to companies exceeding these thresholds as well as SME companies who R&D work is subsidised or subcontracted from LARGE companies, or funded by notified state-aid grants and since April 2013 has been further developed as the R&D Expenditure Credit (RDEC).
We work with one of the country’s leading Research and Development firms specialising in identifying relevant claims. Whether you have designed a piece of innovative software, developed a new food product or flavour, you may well have a claim.
If other firms have turned you down, don’t give up just yet. Let us take a look as often we are in a stronger position to convince HMRC that your claim is indeed allowable.
Get in touch and we’ll get an expert to review your business and advise on whether you would have a valid claim.
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