R&D Tax Credits

According to the latest statistics, a total of £3.5 billion in Research and Development (R&D) Tax Credits was claimed in 2016/17, resulting in the recruitment of thousands of new staff and the launch of some of the UK’s most innovative research projects.

Talk to Macalvins today to discover how R&D Tax Credits could help your company grow, innovate and hire.

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A quick guide to R&D tax reliefs

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Macalvins Chartered Accountants, Tax & Business Advisers | Harrow, Mayfair, London

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From application to expenditure, our services include:

First launched in 2000, the R&D Tax Credits scheme incentives investment and technical innovation by providing generous tax relief on qualifying expenditure. Whether your project is successful or not, R&D Tax Credits can reduce your Corporation Tax bill.

For SMEs, the maximum available relief is 230 per cent of qualifying expenditure. Loss-making companies, meanwhile, are entitled to surrender their losses in return for a payable tax credit.

You can claim SME R&D relief if you’re a, SME with:

  • Less than 500 staff
  • A turnover of under 100 million euros or a balance sheet total under 86 million euros

To get R&D relief, you need to explain how a project:

  • Looked for an advance in science and technology
  • Had to overcome uncertainty
  • Tried to overcome this uncertainty
  • Could not be easily worked out by a professional in the field

Your project may research or develop a new process, product or service or improve on an existing one.

A quick guide to R&D tax reliefs

It is thought that billions of pounds of R&D tax relief has gone unclaimed in the UK
– with upto 80 per cent of eligible businesses not having made a claim.

With so many companies missing out on this vital relief,
we want to make sure you can make the most of this valuable tax credit.

Download your free guide here

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For expert support applying for R&D Tax Credits, get in touch with our experienced team today. We’ve successfully helped companies invest hundreds of thousands of pounds on tax-free research projects to grow their business.

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