What is Research & Development (R&D) Tax Relief? —
R&D Tax Relief is a HMRC corporation tax incentive designed to encourage and reward companies of all sizes and all sectors who are engaged in innovation. The advantage of making a claim is a cash benefit to the company which can be as much as 33% of the qualifying expenditure identified.
There is a common misconception that only companies with teams in white lab coats will qualify however this is far from reality. Regardless of sector; if a company is spending money on research and development then they may be eligible to claim R&D Tax Relief. CBTax support thousands of companies across the UK, covering all sectors in making successful claims. Our experienced team can identify whether a claim could be possible that could fuel your desired growth plans whether this is to support further innovation, purchasing an asset or profit extraction.
Our Process —
The team at CBTax have worked with HMRC for many years, we know what they need to see to understand your innovative activities and ultimately process your claim – this is why we have a 100% success rate. Our approach is robust, proactive and we deliver.
Which R&D Tax Relief scheme does my company qualify for? —
There are two R&D Tax Relief schemes. The scheme applicable will depend on whether the business is an SME or a large company.
SME Criteria
- Less than 500 staff;
- Not more than €100m turnover;
- Not more than €86m gross assets.
Large Company Criteria
- 500 staff or more; and either
- More than €100m turnover; or
- More than €86m gross assets.
Most companies will fall under the SME criteria. There will also be instances where a company is transitioning between an SME and large company. Our specialist team of Chartered Tax Advisers will clarify this with clients during our initial meetings.