R&D Tax Relief Explained
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Welcome To Incentivas
What is R&D Tax Relief
Research and Development Tax Relief is a government incentive for UK companies for investing in innovation. This can be in any industry and can relate to a product or process. It can also be used for researching, designing, creating and testing all of the R&D process.
By choosing Incentivas we can help you claim R&D Tax Relief from HMRC, making the process simply and easy for you.
Company size does not matter, even if your business has made a loss. Your business may still be eligible to reduce your corporation tax bill or receive a payable cash tax credit.
R&D tax relief is one of the most significant government-backed tax reliefs available however, many companies do not realise they qualify.
Welcome To Incentivas
Who can apply for R&D tax relief?
In order to claim R&D tax relief, your R&D projects must meet HMRC’s definition of R&D. Our expert team will guide you and ensure we have all the information for your claim.
To qualify for R&D Tax Credits, your business must be:
- Registered as a UK Limited Company.
- Liable for corporation tax
- Conducted research and development work.
If you’re claiming as an SME, you will need to have the following criteria:
- Be a limited company
- Have closed their accounts
- Have 500 or fewer employees
- Have an annual turnover of no more than €100 million and have gross assets of less than €86 million
- The deadline for submitting a claim is 2 years following the end of the accounting period in which the costs were incurred.
Still not sure if you qualify? Why not contact us today and we will check your eligibility.
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What kind of projects count as R&D?
If your business is spending money or has incurred costs in R&D, then you’re entitled to make a claim. Here are some of the costs you can claim as R&D Tax Credits:
- Your project must include creating new processes, products or services
- Improving existing services, products or processes
- Developing new software or updating existing software.
- Project costs for staff wages, including subcontractors or agency staff.
- Materials and utilities you need for the project
- Software, including developing Apps, online management tools
- Trials and Independent Research
- Creating and working on prototypes
The Benefits of R&D
For any business to stay competitive in an ever-changing market , R&D projects are top priority. Now that more people are online more than ever. Investing in Research & Development businesses can stay ahead of their competition and remain cost-effective. As new developments often result in more efficient processes and businesses running smoother.
R&D tax credits are a tax incentive provided by the UK Government, they have been designed to encourage growth, innovation. The UK Government recognise R&D impacts economic growth and wants more UK businesses to invest in R&D. Any sector or industry can be eligible to make a claim and there’s no minimum claim requirement.
Our approach to R&D tax relief
The Incentivas process for R&D Tax Relief claims has helped us save our clients over £1 million over the last 5 years, with an average client saving £43k. This includes both profit and loss making businesses from a wide range of industries.
Step 1: Free Consultation
Firstly, we will have arrange a suitable time & date for an initial discussion about your business and your R&D activities. This can be in person, over the phone, or via videocall. This can last up to 1 hour or as long as you’ve asked all your questions.
Step 2: Details of your claim
We have extensive experience in getting all the details we need to build your claim. Our expert team will identify all your qualifying R&D projects undertaken by your business, including all technical information, qualifying costs, and knowing all the right questions to ask. We will create your R&D tax relief report which will be ready for the next step. We make it that simply for you!
Step 3: Maximising your claim
Our team will work with you and assess the report to maximise your claim. Once the technical report and a summary of qualifying costs is created it will be ready for submission. All you need to do it relax as we liaise with HMRC to approve your claim.
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See what others are saying
Director at Manng Carpenter
I first heard about Research & Development tax credits in the news and decided to do some research, the scheme itself seemed quite complicated (at least to me) but I came across Incentivas, a company that submits claims on behalf of its customers. Not knowing were to start I decided to give them a call and I can honestly say I’m so glad I did. The service provided has been truly excellent, they explained everything in very simple terms and were able to claim us back over £75,000!
Director of Fair Care
I first contacted Incentivas for a free R&D eligibility check. To be honest, I didn’t really expect to be able to claim anything as an IT Consultant but following a phone call with a member of the team it was explained to me that I could be due a refund of over £10,000. Naturally, I decided to go ahead with the claim
HR Manager
Incentivas contacted me regarding research and development tax credits, having never heard about this before I was a bit sceptical to say the least. However, their professional team was fantastic, after explaining that I have been doing research and development, they quickly compiled my claim and handled it from start to finish. Only to let me know the money had gone in the bank! It is worth the quick chat it takes to find out what you could reclaim.