Research and Development tax relief
Have you engaged in any new projects in your business lately? If you have, you may be eligible to receive Research and Development (R&D) tax relief.
What is Research and Development tax relief?
In 2000 the government introduced this scheme to encourage scientific and technological innovation within UK small and medium-sized businesses.
If eligible for the scheme, your tax bill may be reduced, or you could receive a payable tax credit. Either way, receiving tax relief is a great way to fund your next project.
How do you know if you are eligible to receive tax relief?
Your business is probably conducting research and development in some form but what you may not realise is that R&D tax credits apply to a wide range of projects. If you are unsure if your project qualifies, please get in touch, it’s worth a phone call and it could result in an unexpected cash boost for your company.
How do you claim?
We have partnered up with Catax, experts in specialist areas of tax relief. Catax will break down the claims process for you so all you need to do is provide a few details and they will take care of the rest.
Get in touch and find out if one of your recent projects is eligible.
Frequently asked questions
What projects can be considered for R&D tax relief?
R&D tax relief applies to the development of software, new materials, systems and processes, successful and failed projects.
How much money can I claim?
SMEs can claim up to 33p for every £1 spent on research and development.
What is the average value of an R&D claim?
The average value of a claim is £59,000
How long will it take to claim?
The average time for a claim is approx. 6-8 weeks.