Research & Development Tax Relief
Research & Development (R&D) tax relief is a win-win: improve your products or service, and offset the cost of doing it.
One of the most generous corporation tax reliefs currently available, R&D tax relief is designed to encourage innovation and increase spending on R&D activities. You can claim back money that you spend on research and development to offset against current or future tax bills. At Chiene + Tait, we will help you understand the rules and processes of R&D tax relief – and provide an expert service that gets you the most value from your innovation.
Just for scientists, right?
No, not at all.
In the eyes of HMRC, R&D covers any project that seeks to achieve an advance in science or technology ‘through the resolution of scientific or technological uncertainties.’ It is available to any company, operating in any industry. If you have:
- Worked on something that hasn’t been attempted before;
- Tried to improve an existing product through technological change; or
- Looked to find a more efficient way to work
You will likely be eligible for relief. Even if your R&D project was unsuccessful, you may still be eligible: the key is that the project seeks to achieve a technological or scientific advance.
You know the technology, but we know the tax.
We have a team of R&D tax specialists who know the subject inside-out. With a 100% success rate in applications, we will work with you to identify what you can claim, prepare a detailed report and submit directly to HMRC.
What’s more, we’re tax experts first and foremost. We know exactly what qualifies per legislation, and how to present information to HMRC. The advice you get from us will be accurate, insightful and comprehensive. We understand HMRC’s language, and we understand the impact a relief claim will have on your tax position, compliance and strategy.