If your business has engaged in a project that is looking to achieve and advance in science or technology, it is deemed to be carrying out Research and Development (R&D)
We help you to find out if you qualify?
We compile a comprehensive report
What you need to qualify for SME R&D Relief?
What expenses are eligible for relief?
How long do you have to make a claim?
First, we would ask you questions to check to see if you were eligible for R&D relief which allows £2.30 to be deduction against taxable profits for every £1 spent. So worthwhile.
Once we have established that your business is eligible for R&D we will collect information from you on the project(s), people involved and more.
We will create an R&D report which highlights the R&D and the relief being sought. We will go through this with you for you to sign off.
Claiming the R&D relief
Once the R&D report confirmed it will be sent to HMRC and the tax relief or reclaim will be applied but HMRC.
If there are any HMRC queries about the R&D report, we will speak with HMRC.
Also, R&D allowance allowing for full relief for qualifying expenditure
Time limit is 2 years from the end of an accounting period which corresponds to the corporation tax return deadline.
SME (small medium sized enterprises) definition
An SME is a company if
We can help assess your business and improve it's eligability