Many businesses investigating R&D tax credits can find it confusing at first. The application process in particular can seem daunting, even though it is in fact relatively straight forward. As long you keep all company records, you will have access to all the information you need when it comes to submitting your claim. It’s just…

On the surface, it may seem that R&D tax credits only offer companies a financial benefit. In reality, the benefits of R&D tax credits go much deeper and chief among these is cash flow. One priority that all businesses share is to obtain profitability and cash flow management is the most surefire way to achieve…

There are two schemes available to companies that want to claim R&D tax credits. The SME (small and medium-sized enterprises) scheme and the RDEC (R&D expenditure credit) scheme. The RDEC incentive scheme was introduced in April 2013, replacing the preexisting large company scheme. It still fulfills a similar role in allowing large companies to access R&D…

It’s true. The number of businesses claiming R&D and benefiting from R&D tax credits has been rising in recent years. It has been reported that during the most recent financial year a total of 59,265 claims were made, both through the RDEC and SME schemes. This translates to a total tax relief saving of £5.3bn.…

A common misconception among businesses looking to claim R&D tax credits is that they can only claim for successful projects. Not so! In truth, unsuccessful R&D projects can be claimed in much the same way as successful ones. The reason for this is that HMRC wants to encourage innovative behaviour within UK firms. HMRC are…

A mistake companies commonly make when applying for R&D tax credits is overlooking qualifying expenses. Often they tick off the obvious R& D expenses such as consumables and staffing costs, and leave it there. The reality is that the list of qualifying R&D expenses is long and doesn’t only feature obvious costs. Without knowledge of…