R&D tax relief

Are you missing out on tax relief?

(Research & Development) R&D tax relief is a government-backed corporation tax incentive, aimed at stimulating innovation and development in UK industries. Investing in innovation is good not only for every business, but also for the UK economy as a whole.

R&D tax relief is perhaps one of the least understood reliefs, both amongst the companies that might have a claim and also amongst the advisers who might help them make one. At Carpenter Box, our Tax Services Group is well equipped to be able to look at what might qualify as R&D spend and then guide you through the process of claiming it.

Qualifying activities

To qualify, a company must be carrying out research and development work in the field of science or technology. The net benefit of R&D tax relief ranges from 9% to 33% of eligible expenditure, depending on the size of the company and whether a profit or loss has been made.

What actually constitutes R&D is wide ranging but includes the development of improvement of a product or process – there must be a technological advancement and an attempt to resolve a technological uncertainty.
We have found that many companies are carrying out qualifying R&D as part of their existing commercial product development. The best way to find out if you qualify is to speak to our team.

How we can help:

• Ensuring you have considered all tax years where claims can still be made
• Identifying all potentially qualifying R&D activities or projects
• Producing a detailed R&D claim on your behalf
• Submitting your claim and obtaining a repayment of corporation tax where appropriate
• Providing training to your staff to help identify R&D activities and projects in future years

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