R&D Tax Credits

What is an R&D Tax Credits?

With the help of R&D tax reduction, your company’s cash flow gets better and frees up funds that can be used to buy more assets or support its growth plan.

What are research and development tax credits?

Tax credits for research and development (R&D) can be given to firms to help them fund their work on breakthrough science and technology projects. It can be claimed by a variety of companies looking to conduct research or develop a breakthrough in their sector.

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Why Asset Finance for R&D Tax Credits

The procedure of claiming R&D tax credits is not always straightforward, and it’s critical to have a thorough understanding of HMRC’s regulations before getting started, which is where we come in.

We’ll analyse your company’s activities and costs with the help of specialists to see which ones qualify as ‘R&D’ under HMRC’s research and development plan and see whether you’re missing out on any potential tax credits.

So is an R&D Tax credit for you?

R&D tax credits are available to businesses in practically every industry. To be eligible for tax benefits, your company must be:

A Corporation Tax-registered limited corporation in the United Kingdom.
Qualifying research and development activities have been completed.
Money has been spent on the chosen project(s).

Projects must also fit the government’s definition of R&D to be eligible for tax exemption.

How does it work?

R&D work must be part of a specific project to improve science or technology, and it must be related to your firm’s trade – although it can be either an existing one or one you want to start up based on the R&D results.

Your project could investigate or build a new process, product, or service, or it could improve on one that already exists.
In addition, tax relief can be claimed for ventures that do not succeed.

R&D Tax Relief and its Types

The type of R&D tax relief you may be entitled for is determined by the size of your business and whether or not work has been subcontracted.

The two types are as follows:

Relief for R&D for small and medium-sized businesses (SMEs) Companies with less than 500 employees, a revenue of fewer than 100 million euros, or a balance sheet totaling less than 86 million euros are eligible for R&D tax exemption.
Expense Credit for Research and Development

Large companies can claim for working on R&D projects under the Research and Development Expenditure Credit, which replaced the relief formerly offered under the large company plan.

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