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How Much Can You Claim?
Answer these simple questions
Using the R&D Tax Credit Scheme
Nearly £84 billion of R&D tax relief is unclaimed in the UK according to the Treasury.
With 80% of eligible businesses not having made a claim, use our simple calculator to see if you may qualify. To claim you need to explain how a project: looked for an advance in the field, had to overcome the scientific or technological uncertainty, tried to overcome the scientific or technological uncertainty, could not be easily worked out by a professional in the field.
Watch this simple video to learn more about how the scheme can be used.
Using the R&D Tax Credit Scheme
Nearly £84 billion of R&D tax relief is unclaimed in the UK according to the Treasury.
With 80% of eligible businesses not having made a claim, use our simple calculator to see if you may qualify. To claim you need to explain how a project: looked for an advance in the field, had to overcome the scientific or technological uncertainty, tried to overcome the scientific or technological uncertainty, could not be easily worked out by a professional in the field.
Watch this simple video to learn more about how the scheme can be used.
Examples of R&D tax credit claims
Size of your claim will depend on the scale of your R&D activity and your costs.
A profitable SME: In addition to the tax relief your company’s eligible R&D expenditure generates, a further 86% can be deducted
A loss-making SME: A payable credit can be claimed by loss-making SMEs. With an R&D tax credit incentive of up to 18.6%, if a company spent £500,000 per year on R&D it could potentially claim back up to £93,000.
A loss-making, R&D intensive SME: At least 40% of a company’s total expenditure being spent on R&D. Businesses in this category may be
Examples of R&D tax credit claims
Size of your claim will depend on the scale of your R&D activity and your costs.
A profitable SME: In addition to the tax relief your company’s eligible R&D expenditure generates, a further 86% can be deducted from the yearly profit. If you spent £500,000 per year on R&D you could potentially claim back up to £107,500 as a tax refund or reduced tax liability.
A loss-making SME: A payable credit can be claimed by loss-making SMEs. With an R&D tax credit incentive of up to 18.6%, if a company spent £500,000 per year on R&D it could potentially claim back up to £93,000.
A loss-making, R&D intensive SME: At least 40% of a company’s total expenditure being spent on R&D. Businesses in this category may be eligible for up to 27%. If you spent £500,000 per year on R&D you could potentially claim back up to £135,000.
Encouraging Innovation
Around £7 billion of tax relief is paid to UK businesses through R&D Tax Credits every year.
UK Government encourages innovation as it is vital for improving the UK’s productivity, performance and competitiveness. Hence, research and development (R&D) incentives for small and medium size enterprises (SMEs) and large companies have been improved over several years to encourage and reward greater UK innovation.
Encouraging Innovation
Around £7 billion of tax relief is paid to UK businesses through R&D Tax Credits every year.
UK Government encourages innovation as it is vital for improving the UK’s productivity, performance and competitiveness. Hence, research and development (R&D) incentives for small and medium size enterprises (SMEs) and large companies have been improved over several years to encourage and reward greater UK innovation.
Staying on top of the Changes
Calculating R&D tax credits for SMEs
To qualify as an SME, your company must have fewer than 500 staff and a turnover of under £100 million GBP’s or a balance sheet total under £86 million GBP’s.
Changes to R&D tax credit scheme
The government makes ongoing reforms to R&D tax credit relief schemes. Contact a Preferred Partner tax advisor for the latest information.
Calculating R&D tax credits for SMEs
To qualify as an SME, your company must have fewer than 500 staff and a turnover of under £100 million GBP’s or a balance sheet total under £86 million GBP’s.
Staying on top of the Changes
Calculating R&D tax credits for SMEs
To qualify as an SME, your company must have fewer than 500 staff and a turnover of under £100 million GBP’s or a balance sheet total under £86 million GBP’s.
Changes to R&D tax credit scheme
The government makes ongoing reforms to R&D tax credit relief schemes. Contact a Preferred Partner tax advisor for the latest information.
Calculating R&D tax credits for SMEs
To qualify as an SME, your company must have fewer than 500 staff and a turnover of under £100 million GBP’s or a balance sheet total under £86 million GBP’s.
UK Government Website
Keep up to date with UK Government R&D Tax Credit schemes. Along with calculations, provides detailed information on what can be claimed and what cannot be claimed, if your advance is in the arts, humanities, social sciences, including economics.
UK Government Website
Keep up to date with UK Government R&D Tax Credit schemes. Along with calculations, provides detailed information on what can be claimed and what cannot be claimed, if your advance is in the arts, humanities, social sciences, including economics.
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