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R&D Tax credits – have you considered them?

R&D Tax credits – have you considered them?

Manor Royal BID director Paul Roe, partner of local accountants, business and tax advisory firm Kreston Reeves, writes about this under-used tax incentive....

Any company could potentially benefit from enhanced tax relief through claiming Research & Development tax credits. Depending on the size of company the relief can be up to a further 130% of any qualifying expenditure and there is even the opportunity to claim money back from HMRC where the company is making a loss.

Even though your main trade may not be R&D it is possible you have created your own product or process which has been a technological or scientific advancement. The most obvious is some form of software development to help better your efficiencies but it is not just limited to this. R&D can feature in all industries including food and drink, manufacturing and service based sectors. A claim can be made within 2 years of the end of an accounting period.

In plain English, if you have a problem with a product or a business process, which you have considered and improved, then you should at least investigate whether you may have a valid R & D tax credit claim. Using staff, subcontractors or consumables on such innovative ideas means it is worth having a discussion with a specialist advisor as to whether or not an R&D claim could be viable.

Please call Paul on 01293 776153, or contact him via for an initial conversation.



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