claiming research and development tax credits

R&D Tax Credit Specialists

R&D Tax Credits are a tax incentive put in place by the UK Government back in 2000. The purpose of Research and Development Tax Credits is to encourage companies to innovate and grow, which the Government believes is advantageous for the UK economy. 

However, recent HMRC statistics have shown that many UK businesses may be missing out on R&D Tax Relief.

 

Contact our R&D Tax Credits team

 


Claiming R&D Tax Credits as an SME or large organisation

Is your organisation interested in claiming R&D Tax Credits? Our expert team can assist. 

  • Businesses with a qualifying project may be able to claim a corporation tax repayment/reduction in their liability if they are carrying out qualifying R&D projects. For profitable companies, the repayment/reduction in liability is equal to 25% of the qualifying costs. For loss making companies, the claim can be up to 33% of the qualifying expenditure. Any cash repayment does not need to paid back. If you are a director who has been furloughed from your own company, you are still able to work with us to carry out a claim as it is considered part of your statutory duties.
  • Alexander & Co work on a contingency fee basis (though fixed fee can also be quoted for if required) and all R&D consultations are free of charge. Therefore, we only charge if HMRC accepts the claim and you get a repayment/reduction in your liability. The claim will be prepared by a Chartered Tax Advisor. The claim should only take two to three hours of your time – we do all the work for you.For more information, contact our R&D Tax Credit specialists, Our fees are some of the most competitive in the industry and are always contingent on a claim being successful.

 

Who is eligible for R&D Tax Credits? 

A common misconception is that R&D tax relief only applies to science and technology companies. However, there are a whole host of industries who can reap the benefits from R&D Tax Credits, from the hospitality industry to property. To qualify, you must be a business that:

  • Seeks to advance their knowledge
  • Improves a service or product
  • Solves uncertainties in the process

What kind of projects qualify?

Your R&D project does not need to be unique and does not need to succeed. Examples of R&D projects where we have successfully assisted our clients include:

  • The design of bespoke machinery for two different manufacturers in relation to paper products.
  • The development of new bespoke software for a client’s internal accounting and operations systems, where a solution was not readily available in the marketplace.
  • Several claims relating to new products and processes that clients have developed, where they are either completely new or an improvement on what is available in the marketplace.

These are just a few examples of the many claims we have undertaken. We would also note that claims can be made where the R&D has been subcontracted out to another party. For more information, get in touch!

Our tax team are here to help

Get started with the help of our R&D Tax Credit specialists

Our specialist, in-house R&D tax relief specialists can support you with your claim, as claiming yourself can be a complicated and prolonged endeavour. We can assist you with claims for the past two accounting periods which can often result in a large sum of corporation tax repaid or R&D tax credits.

It’s important to find out if you are eligible to make a claim immediately, as you don’t want to miss any deadlines and potentially lose out on significant credits. For more information, contact our friendly and professional team today. Call us on 0161 832 4841 or fill out the form below and we’ll be in touch shortly.

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