R&D Tax Credits

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R&D Tax Relief allows businesses to recover up to 33% of costs incurred whilst undertaking innovative activities such as advances made on new or existing products, processes and software.

There are two distinct R&D tax credit schemes, one for SMEs and the RDEC  for ‘large’ companies which, for the purposes of the legislation, are those which employ more than 500 full-time staff and where either the turnover exceeds €100m or the Balance Sheet value exceeds €86m.

Innovation Tax prides itself on the knowledge, experience and dedication of a team containing technical, IP specialists, chartered tax professionals and ex-HMRC inspectors.

Can I obtain tax relief on capitalised R&D expenditure?
R&D Qualifying Expenditure
Can I obtain tax relief on capitalised R&D expenditure?
Clients often ask about machinery purchased for use in R&D qualifying projects and whether the costs can be recovered through the R&D tax credit scheme. Unfortunately, ‘capital expenditure’ doesn’t
Can I claim R&D Tax Credits for grant-funded projects?
R&D Schemes
Can I claim R&D Tax Credits for grant-funded projects?
There are two R&D Tax Credit schemes available, the Small and Medium Enterprise (SME) scheme and the Research and Development Expenditure Credit (RDEC) scheme, and the eligibility to claim
The impact of ‘Connected Party’ relationships for R&D Tax Relief
R&D Qualifying Expenditure
The impact of ‘Connected Party’ relationships for R&D Tax Relief
When claiming R&D qualifying expenditure in respect of subcontractors and externally provided workers (EPW’s), special rules apply where there is a connection between the R&D claimant company and the
What do HMRC mean by the term ‘Competent Professional’?
R&D Schemes
What do HMRC mean by the term ‘Competent Professional’?
What do HMRC mean by the term ‘Competent Professional’? In overview terms, HMRC define compliant R&D for tax purposes as; ‘the seeking of an advancement in science or technology
Differentiating between Subcontractors & EPW’s for R&D Tax Relief
R&D Qualifying Expenditure
Differentiating between Subcontractors & EPW’s for R&D Tax Relief
We often come across situations where there is R&D being performed by persons other than those employed by the claimant company conducting qualifying activity. The reasons for this are
Record-keeping requirements for claiming R&D Tax Relief
R&D Schemes
Record-keeping requirements for claiming R&D Tax Relief
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
Which R&D scheme am I entitled to claim under?
R&D Schemes
Which R&D scheme am I entitled to claim under?
Hmmm… two schemes, one far more generous than the other. There’s a catch, right? Not so much a ‘catch. just a few questions that need answering. Firstly, was headcount
Are you optimising your R&D Tax Credit Claim?
R&D Tax Credits
Are you optimising your R&D Tax Credit Claim?
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
What Reimbursed Expenses qualify for R&D Tax Relief?
R&D Qualifying Expenditure
What Reimbursed Expenses qualify for R&D Tax Relief?
Did you know that HMRC recently relaxed the rules regarding the recovery of expenses incurred by staff in the course of undertaking compliant activity? Pre-existing legislation meant that staffing
What type of ‘consumable items’ qualify for R&D Tax Relief?
R&D Qualifying Expenditure
What type of ‘consumable items’ qualify for R&D Tax Relief?
General 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. The fundamental arbiter is

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