Investing in research and development (R&D) is vital to the long-term success of the UK economy.

Because of this it is actively encouraged by the government. One of the ways it does this is through the R&D tax relief scheme, which offers tax benefits to businesses that invest into R&D.

Although the rules are complex and claims can be time consuming, our highly experienced team of advisers can help you cut through the complexity, in order to access this very worthwhile tax relief.

R&D tax relief can be an invaluable source of finance for companies in the early stages of their development. To be eligible, a company must be within the charge to UK corporation tax and be carrying on a project that seeks an advancement in science or technology through the resolution of scientific or technological uncertainties. The relief is not sector specific, and our experts have advised companies across many industries to make successful claims.

With years of experience in preparing R&D submissions, our commercially minded specialists have developed a deep understanding of the relief regime and the qualifying conditions. We can help you to identify whether there is scope to make a claim, identify qualifying expenditure, prepare and submit claims to HMRC, and provide general advice on the regime to ensure you benefit from the maximum relief available.

There are two main schemes:

• One for SMEs and
• One for larger businesses.

Both have their own rules and complexities. The rules have changed considerably over the course of the last few years and continue to do so and as a result detailed guidance is not included here.

Should you wish to discuss your potential scenario our team would be happy to advise, and we will work alongside you to ensure your claim is robust and the correct documentation is in place to support any claim submitted to HMRC.

Our approach to claims

We understand that an R&D claim can make a significant difference to a company, whether you are looking to surrender R&D losses for a cash credit or reduce the level of profits chargeable to corporation tax with the enhanced deduction.

We have developed a four-stage approach to R&D claims to ensure the claim is robust, while enabling the team to prepare and submit the claim as soon as possible.

• Identify – Liaising with your team to understand and identify the types of expenditure that will qualify
• Collate – Working with your team to collate all the necessary information for the claim
• Prepare – We will liaise with your team and prepare a report to support and substantiate your claim based on the information and data collated in the previous stages
• Submit – We will work with your team to finalise your submission and if we are the registered agent, we will submit the report with your Company Tax Return.

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