Research and Development Tax Credits
Research and development (R&D) tax relief and
credits give a tax advantage to both small and medium sized
enterprises (SMEs) and large companies undertaking qualifying
activities. Our specialist team of advisers deal with claims in a
wide range of sectors.
R&D tax relief is a government incentive to encourage
companies to invest in R&D activities by claiming relief on
qualifying costs.
R&D activities are not confined to companies in the
technology sector. We make claims for companies across a range of
sectors including:
- Manufacturing
- Engineering
- Construction
- Automotive
- Pharmaceutical
- Software
Maximising your company's claim
Talk to us about making a claim or increasing your claim if your
company carries out activities which include:
- Seeking to resolve technological
uncertainties
- Seeking to make technological
advancements
There is a time limit of two years from the end of the
accounting period to submit an R&D claim with the return.
The rates of relief are:
- 175% of the qualifying R&D costs may be
claimed, as a tax deduction by SMEs (150% for expenditure prior to
1 August 2008).
- 130% of qualifying costs for large companies
(125% for expenditure prior to 1 April 2008).
In addition, SMEs may choose to "trade in" their R&D losses
and receive 24.5p (24p for expenditure prior to 1 August 2008) for
each £1 spent on qualifying R&D.
100% allowances are also available on R&D capital
expenditure.
We will help you to put together a robust claim, either as a
stand alone project or as part of a wider tax compliance service.
Our excellent reputation with HM Revenue and Customs (HMRC) and our
established relationships with the new R&D units within HMRC
put our clients in a strong position.
For further details please contact Samantha Vanags, Partner on
+44 (0)1865 799805 or email samantha.j.vanags@gtuk.com.