Innovation Tax have a wealth of expert knowledge for you to access on R&D tax credits/relief. Our knowledge bank answers your questions in a series of simple guides & articles created by our sector specialists & tax professionals.
Innovation Tax are R&D tax relief claim specialists, we pride itself on the knowledge, experience and dedication of a team consisting of technical specialists, chartered tax professionals and ex-HMRC inspectors. This holistic expertise together with our business acumen combine to create tangible value for our clients. Each R&D tax credit claim that we undertake is compiled robustly in line with the prevailing legislation in order to maximise the claim benefit for our clients and is subjected to our comprehensive quality assurance protocols to ensure it passes through the HMRC claim process as efficiently as possible.
The UK governments Research & Development tax relief scheme allows UK registered companies to recover up to 33% of their costs incurred whilst undertaking innovative activities such as advances made to new or existing products, processes, materials and software. The scheme is sector agnostic, and you can claim back 2 financial accounting years and every forward year of qualifying activity. Your business does not have to be profit making to claim and project success is not a factor.
One for SMEs and the RDEC (Research & Development Expenditure Credit) 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.
Our Knowledge Bank contains answers to some of the common and not-so-common questions you may have on claiming R&D tax relief, which we are happy to share with companies looking to benefit from their innovative activities.
We hope you’ll find the answers to some of the questions you may have when setting out on your R&D tax credit claim but if you can’t find what you’re looking for or have a specific R&D claim challenge you would like to discuss we’ll be happy to help.
