R&D Tax Credits

R&D tax credit claims can greatly reduce the Corporation Tax payable by a Company or even generate repayable tax credits.

Companies carrying out qualifying R&D can claim an extra Corporation Tax ‘super deduction’ on certain qualifying expenditure.

Where an R&D claim creates a tax loss, it is possible to surrender this and obtain a repayable tax credit.

To make a claim, a company must be carrying out research and development work in a field of science or technology and have sought to make an advance.

A common misconception is that R&D claims are limited to ‘white coat’ scientific research but equally work in design, software or engineering that involves overcoming difficult technological problems can often qualify too. Qualifying activities can include creating new processes, products or services, making appreciable improvements to existing ones and even using science and technology to duplicate existing processes, products and services in a new way. But pure product development in itself does not qualify.

We would be happy to talk with you to identify whether your company has undertaken qualifying activities and if a claim is appropriate.

Please call 01233 630000 or complete our contact form to speak to one of our specialists who will be happy to discuss whether your company could make a claim.