Research and Development tax relief
Since 2016, our R&D experts have helped our clients:
- Receive over £10million in tax credits (cash in hand)
- Identify over £41million of qualifying expenditure
- Achieve a 100% claim success rate
Are you missing out?
What is it?
Research & Development tax relief is an incredibly generous corporation tax relief that is currently available for companies undertaking qualifying R&D activities. It’s designed to encourage innovation and technical development by making research more affordable and minimising the financial risk, and it’s open to more companies, sectors and activities than you might think.
You can claim back up to 33% of eligible costs as a tax credit. This money is provided to you cash-in-hand, for you to use to help pay for that extra employee you desperately need or help keep the lights on for the rest of the year. It provides a vital cashflow boost at the time when companies need it the most.
Who is it for?
Any company. And it’s not just for tech start-ups and or scientists in lab coats. Research and Development tax relief is available to a company that attempts to overcome technological or scientific uncertainties using untried and untested techniques. An eligible project doesn’t have to be pure science. It can be creating an innovative, state-of-the-art product or simply improving upon existing processes. If you have:
- Been working 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
Then you might be eligible, and we can help you check.
Why Chiene + Tait?
Commitment to clients
Our Research and Development tax relief claims are overseen by Dave Philp, Entrepreneurial Tax Assistant Manager, and Neil Norman, Entrepreneurial Tax Partner. We take care to understand our clients’ businesses, activities and strategies in consultation. In practice, this means we’ll go through things with you to identify where you might be able to make a Research and Development tax relief claim, or tell you if we don’t think your application will be successful. It also means we’ll gain a true understanding of your project and the underlying innovations, helping us to prepare a report to meet HMRC’s criteria.
The R&D legislation is a complex area but our team know what you can and can’t claim for. We review all financial data, including previously submitted claims if applicable, to ensure that your Research and Development tax relief claim is maximised whilst minimising the possibility of an enquiry.
Contact us about Research and Development tax relief
If you have any questions, would like to meet for a chat, or even have a specific project in mind, then get in touch with us and we’ll discuss what we can do for you.
In the meantime, you can read Dave Philp’s blog on the top misconceptions surrounding research and development tax relief.
Meet the team
We hold regular events for our clients and issue regular communications to highlight important developments and new legislation for charities and their governance.