Who can claim R&D expenditure in tax credits?

We will begin with a clear statement: R&D tax credits are not restricted to particular industries.

Examples of projects that might qualify for R&D tax relief include:

  • research and development of a new process, such as a more efficient manufacturing technique;
  • developing and producing a model, like a more energy-efficient machine;
  • working out original computer code using new methods;
  • researching new medicines;
  • creating new ways of using different materials in construction, for example.

In fact, any business that undertakes projects to advance science or technology is usually eligible.

Yet many large businesses not only fail to claim but are not even aware of R &D Tax Credits.

One of our R&D tax consultants will happily discuss your business free of charge to help you understand if your business qualifies.

That’s where we come in.

You see investing in innovation can not only lead to business growth, it can save you money, large amounts of money.

How to claim

The claim process is as follows:

  • assess qualifying R&D activity
  • calculate qualifying R&D expenditure
  • submit the figures in the CT600 tax return.

HMRC recommend adequate record-keeping of eligible activities and eligible costs to provide a coherent audit trail in case of an enquiry by HMRC. They also publish a guide explaining how to make a claim on the UK Gov website, like the one for SMEs here.

We have a simple eligibility check – just hit the button asking ARE YOU ELIGIBLE? here and one of our team at Hamilton Blake Consulting will contact you promptly.

Use expert R&D Advisers

In order to get the largest tax relief return, and the lowest level of risk, you need to have an expert on your side. You need to choose your R&D adviser with care, great care.

So why choose HB Consulting?

You will be supported by two R&D experts in Simon and Darryl, who you can read more about here.

Together, Darryl and Simon lead a team of tax specialists and client managers, with over 130 clients and in excess of £13 million in reclaimed tax.

We adhere to three primary principles, namely:

  1. Regulatory standards
  2. Behavioural standards
  3. Competence

You can read all about why you should choose us in a recent publication, which you can find here.

Lastly, our method is transparent and easy to follow.

  • We begin with a short 30-minute call
  • We come to you. We will spend on average between 2-3 hours at your offices discussing relevant projects with directors or project managers
  • We send across a list of the information we require
  • We take all the information from these steps and write the report on your behalf
  • We like to stay in contact with our clients through the year and can help them put in place systems to make the R&D process easier

You can read more about our method here.

Finally, if you need any more advice, do not hesitate to contact us today.

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Get in contact with us to see how we can help you apply for your R&D Tax Credits