Why A Law Firm?

Maximise and protect your R&D Tax Credits

United Kingdom Services

Research & Development Tax Credit Claim Preparation

 

General Programme Information

 

Research & Development (R&D) tax relief is a government incentive to encourage companies of all sizes and in all sectors, to invest in R&D activities by claiming relief on qualifying costs and is administered by HM Revenue & Customs (HMRC).

Following extensive public review in 2009 and 2010, spurred by the Dyson Report from global entrepreneur and inventor Sir James Dyson, the Cameron administration boosted the UK R&D Tax Credit programme significantly.

R&D tax credits can either reduce a company’s tax bill or, for some small or medium sized companies, provide a cash sum. The R&D tax credit works by allowing certain companies to deduct up to 225% of qualifying expenditure on R&D activities when calculating their profit for tax purposes.

There is a time limit of two years from the end of the accounting period to submit an R&D claim with the return. In addition, SMEs may choose to “trade in” their R&D losses and receive up to 24p for each £1 spent on qualifying R&D.

But only if you are eligible under the law:  all R&D Tax Credit claims are made, or broken, under the law.   Corporate, tax, intellectual property, and international law.   It’s all in the details.  If you get any of those legal details wrong, you simply won’t be entitled to any benefits no matter how innovative your R&D efforts may be.

Leverage our unique combination of legal and scientific/technical skills to maximise and protect your R&D claim.

 

Who can claim R&D tax credits?

 

Only companies can claim and your company can only claim R&D Relief if it’s liable for Corporation Tax.
There are two schemes depending on whether the R&D is carried out by:

  • a small or medium company (SME), or
  • any company other than a SME (a large company).

 

In terms of industries, companies across a broad range of sectors have successfully claimed R&D Tax Credits, including:

  • Aerospace, Defense and Security – advanced systems development, systems integration, obsolescence and lifecycle enhancements, materials science and engineering, structural and mechanical systems, optics, RADAR and LIDAR systems, security and simulation software, propulsion systems, aeronautics, airframe, avionics, repair methods, STC’s and LSTC’s.
  • Information Technology – software development, enterprise solutions, embedded systems, mobile and cloud based solutions, big data analytics, visualisation systems, simulation systems, gaming systems, frameworks and engines.
  • Manufacturing – machine modifications, process improvement, unique products.  Mechanical, chemical, structural engineering products.
  • Electronics – hardware developments, modification and customisation.
  • Oil, Gas, and Energy – clean tech, biomass, solar, cogen equipment and methods, exploration equipment and methods, biofuels, drilling equipment and methods, compressors, well servicing equipment, hydraulic fracturing methods and equipment, analytics.
  • Materials engineering and sciences – nano materials and coatings.
  • Metal Fabrication – new materials, heat treatments, unique solutions.
  • Plastics Industry – resin types, quality and production time, polymers.
  • Chemical – chemical design and synthesis, formulation, processes, experimentation.
  • Environmental Technologies – technological experimentation, product development

 

How is an SME and a large company defined?

 

The definition of an SME is that used by the European Commission although the thresholds are higher for expenditure on or after 1 August 2008. Briefly, an SME is a company with fewer than 500 employees, and either annual turnover not exceeding €100M or a balance sheet totalling €86M, and which is not part of a larger enterprise that would fail these tests.

A large company is one which does not meet this definition.

 

How Can We Help You Maximise Your R&D Tax Credits?  Our Services:

 

  • Unique and proactive R&D Credit-aware legal advice throughout the year
  • Proactive and simple evidence curation year-round to maximise your claim, audit-prep your claim, and minimise your effort
  • Non-intrusive and integrated services whether you’re a 3-person shop or a Fortune 500 company
  • Preparation of all required forms
  • Monitoring your R&D claim once filed
  • Audit defence and negotiation during HMRC reviews
  • Consult, advise and make recommendations associated with future claims

All services are provided without risking your cash if you choose our contingent billing method, where we paid a percentage of tax credits granted.

Our personalised and highly professional team will help you in understanding the programme and its subtleties, taking care of your claim, allowing you to focus on your business.