Knowledge Centre

Results for:

Self-preparing an R&D Claim: What Are the Risks? 

Though many businesses can and do prepare their own R&D tax credit claims, it can be a tricky and risky process that may not pay off.

When can SMEs claim using the RDEC Scheme?

There are some occasions where a SME needs to use the RDEC Scheme, including when they have received grant funding or subsidy, or have carried out sub-contracted R&D activity on behalf of a large company.

Can I include intangible assets in a R&D Tax Credit claim?

Intangible assets are often a poorly understood category and are frequently left for the accountants to work their magic on when preparing the year-end accounts. This can lead to them being overlooked when identifying the R&D costs for a claim.

How does R&D tax credits affect your company accounts?

How R&D Tax Credits affect your company accounts will depend on which scheme you're claiming via - SME Scheme or RDEC Scheme.

Does Grant Funding Affect my R&D Tax Credits Claim?

Even if a company has received grant funding, they can still obtain R&D tax credits for the same development work! It is highly likely that at least some of the development work funded by a grant will be eligible for an R&D Tax Credits claim.

Patent Box HMRC – What else do I need to know?

There are a number of additional qualifying intellectual property rights that can be attributed to Patent Box. These include IP such as regulatory data protection (also called ‘data exclusivity’), supplementary protection certificates and plant variety rights.

How far back can you claim on the Patent Box Scheme?

Companies must elect into the Patent Box Scheme within two years after the end of the accounting period in which they received the relevant income.

How much could I receive from Patent Box Tax Relief? Patent Box Calculation Example

You work out your tax benefit by subtracting an ‘additional trading deduction’ from your Corporation Tax profits. To do this, you first need to work out what your relevant profits are.

Am I eligible for Patent Box UK?

Only companies liable to pay Corporation Tax are eligible for the Patent Box UK. The company also needs to be making a profit from commercially exploiting patented inventions to receive the reduction in corporation tax.

How do I claim Patent Box Tax Relief?

To claim Patent Box tax relief, there are four key eligibility criteria that your business must meet. If your business meets this criteria, you must then elect in to the Patent Box scheme.

An independent consultancy, highly skilled and experienced

Assists organisations in accessing research and development grant funding across a range of UK and EU schemes and industry sectors.

Get In Touch