ABOUT R&D TAX RELIEF

The R&D Tax Credit Scheme is a government-backed initiative instigated by the EU to encourage British companies to develop their products and processes.  

The UK’s is now one of the most generous schemes, with an estimated £6 billion per annum available to be reclaimed.  Companies’ last two years’ tax returns can be revised and future tax payments can be reduced by similar amounts.

Thousands of UK companies burning £££ billions
Lack of awareness of how to access the scheme, or a company accountant’s absence of technical knowledge or experience, means that thousands of companies are overpaying billions in corporation tax.

The 3 Biggest Myths about the R&D Tax Credit Scheme

Myth 1: The Scheme is only for high-tech companies or ‘men in white coats’

Fact: It’s for any UK company, which undertakes problem-solving activity to develop new and improved products and/or new and improved processes.

You might be surprised at what qualifies as R&D.  Examples include: improving the way you make your product, customising products, environmental efficiencies, developing in-house software, continuous improvement, adding value to your product or process and entering niche or specialised markets. 

Discover in seconds with our eligibility calculator your likely chance of successfully claiming.

All sectors are eligible including Manufacturing, Engineering, Electronics, Communications & Media, Transport, IT (hardware and software).

Myth 2: You can only claim if your R&D has been ‘successful’
Fact: ‘Failed’ R&D can also qualify.  The fact that a project has been unsuccessful is a clear indicator that there was a technical or scientific uncertainty that could not be resolved. 

Myth 3: Submitting an R&D tax claim will usually lead to an HMRC enquiry
Fact: It won’t.  In our extensive experience, this is just not the case. 
In fact, HMRC actively encourage relevant companies to claim and continue innovating.