Innovation Tax
Experienced industrial and tax specialists

We understand the importance of a streamlined methodology when it comes to undertaking innovation incentive claims. We not only use our technical knowledge and industry experience to better understand your business and identify the maximum potential benefit available to you, but also our well-established relationship with HMRC and our experience of tax legislation to ensure claims are fully auditable and compliant to the highest quality standard.

Innovation Tax specialise in helping companies access vital funding and tax incentives to enable their businesses to grow, increase profitability, reduce risk and enable further investment in R&D and capital investments.

  • R&D Tax Credits are designed to reward companies for their efforts in innovation to develop new or improve existing products, processes and systems.
  • Capital Allowances and R&D Allowances enable companies to claim back tax relief on capital expenditure, such as property acquisition, plant and machinery, refurbishments, alterations and extensions.
  • Patent Box is a Government initiative launched to promote investment in intellectual property by enabling companies to pay a reduced Corporation Tax rate of 10% on profits derived from patented products and/or processes.

Innovation Tax employs highly skilled and experienced specialists to ensure all claims are robust, fully maximised and completed in a timely manner, without any disruption to our clients day-to-day business activities.

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How Innovation Tax incentives
help your business to thrive

  • Innovation Tax
    1
    Introduction
    We meet (or call) you to discuss your business, the qualifying criteria and how they might impact on one another.
  • Innovation Tax
    2
    Prequalification
    We conduct a thorough assessment to ensure your activities comply with the legislative requirements
  • Innovation Tax
    3
    Information
    Gathering
    We work closely with your key personnel to gather technical information regarding the compliant project(s) and the source financial data to support the expenditure incurred, which together forms the basis of your claim
  • Innovation Tax
    4
    Report compilation
    & review
    We draft your claim report and forward you a copy for review to provide reassurance that the content is a true representation of your entitlement to claim.
  • Innovation Tax
    5
    QA and Submission
    Once you’re happy with the draft report, we conduct a internal Quality Assurance check to ensure all legislative requirements are satisfied. You’ll then receive a copy of the final report, whilst we liaise directly with your accountant to make the formal submission to HMRC.
Our Services

At Innovation Tax, we specialise in R&D Tax Credits, Capital Allowances and Patent Box claims and are here to help businesses identify and boost their innovation incentives.

Contact Us
Case Studies

BENEFIT: £41,000

Sector: Manufacturing
Profile: £4.4m turnover & 47 employees
Approach: This company operated from premises next door to an ex...

BENEFIT: £26,000

Sector: Engineering
Profile: £700k turnover & 14 employees Approach: A family-owned business who were previously unaware of  the R&D Tax Credi...

BENEFIT: £67,000

Sector: Software
Profile: £470k turnover & 6 employees Approach: Our client was aware of R&D Tax Relief and knew they qualified but, due to...

BENEFIT: £29,000

Sector: Food & Drink
Profile: £1.5m turnover & 31 employees Approach: Despite the client initially believing they carried out little, if any, quali...

BENEFIT: £84,000

Sector: Packaging
Profile: £6.2m turnover & 55 employees Approach: Having previously being approached directly by another service provider, this...
Latest Innovation Tax Insights

Consumable items

The term ‘consumable items’ covers items consumed or transformed whilst undertaking compliant R&D activity, including raw materials, software licenses and utilities of any kind.

Reimbursed Expenses

Did you know that HMRC recently relaxed the rules regarding the recovery of expenses incurred by staff in the course of undertaking compliant activity?

Your ideal PARTNER for Innovation Tax Incentives

At Innovation Tax, professional relationships are the core of our business. We work with a number of Accountancy Practices as their preferred suppliers for R&D Tax Credits, Patent Box & Capital Allowances services.

R&D Claim Value Optimisation

R&D Tax Relief is not simply an opportunity for UK businesses to get funding; it’s an entitlement for any innovative UK business satisfying the definition of R&D for tax purposes.

How do I know which scheme to claim under?

Not so much a ‘catch. just a few questions that need answering. Firstly, was headcount throughout each claim period above 500? If so, you’ll qualify under RDEC legislation but below this limit, you’ll usually qualify under the more-generous SME scheme.

Capital Allowances – Structures and Building Allowance (SBA’s)

Structures and Building Allowance (SBA) was introduced in the 2018 Autumn Budget to provide a straight-line relief on eligible construction costs incurred for new non-residential structures and buildings.

Record-keeping requirements for claiming R&D Tax Credits

Sound record-keeping practices are all very well in an ideal world but, at Innovation Tax, we understand that busy SME’s have more than enough to deal with day-to-day and that this particular aspect of the business often suffers as a consequence.

HMRC R&D Tax Credit Statistics 2019

Need quick professional help in claiming Capital Allowances Tax Relief?

Keen to know more about Patent Box relief?

Innovation Tax

R&D claim Calculator

What is the financial position of your company?
What is your estimated spend on R&D per year?
£25,000 £500,000

We estimate you could receive up to

£6,200

as cash repayment

Innovation Tax