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R&D Tax Credits

The R&D Tax Credits scheme is an HMRC incentive, designed to inspire innovation and increased spending on R&D activities by companies operating in the UK.

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Claiming R&D Tax Credits

If you are a UK business that has invested in innovation and completed research and development, you could be eligible to claim R&D Tax Credits.

Our aim is to simplify the R&D Tax Credits claim process with minimal disruption to your business. We have Consultants with expertise in a wide variety of science, engineering, software and healthcare disciplines and therefore, fully understand the science and technology your project is centred around.

We do the work so you can receive the credit, ‘bridging the technical expertise gap’ between you the Client and your Accountant in order to submit a robust, successful and maximised claim to HMRC. Contact us here.

R&D Tax Credits Schemes

SME Scheme

You are eligible for the R&D Tax Credits SME scheme if you have less than 500 employees in your company and/or group and less than £100m turnover.

  • A 130% uplift is applied to your R&D costs leading to a tax reduction of £24.70 for each £100 spent on R&D if you make a profit
  • Loss making? you could receive a cash payment of £33 for each £100 of R&D expenditure
  • Claims can go back two full years resulting in a repayment of corporation tax already paid

RDEC Scheme

You are eligible for the R&D Tax Credits RDEC scheme (formally Large Company Scheme) if you have over 500 employees in your company or group or more than £100m turnover.

  • No minimum R&D Spend
  • No upper limit on claims
  • From April 2020, Above the Line Credit, is mandatory with a benefit of £10.50 per £100 on R&D
  • Repayable credit now possible for large companies
  • Can still access the 30% uplift scheme for previous tax years

Am I eligible for R&D Tax Credits?

Eligibility Criteria

Further to the scheme eligibility criteria regarding the size of your business and turnover, there are some basic eligibility criteria that your business must meet. These include:

  • UK Registered, Limited Business
  • Must be performing Research and Development (R&D)
  • Must have spent money on this R&D

Further to this, your Research and Development must meet the following standard from HMRC:

“Eligible R&D is considered as activities that seek to:

  • Achieve an advance in overall knowledge or capability in the field of science or technology, and;
  • Resolve scientific or technical uncertainty.”

To read more about eligible R&D activities, please click here.

Eligible Expenditure

HMRC have set out parameters of what project costs are eligible to be claimed. These costs include:

  • Staff costs – salaries, employer’s NIC and pension contributions and reimbursed business expenses.
  • Materials and utilities that are used or transformed in the R&D process.
  • Software costs.
  • Subcontract costs (these are generally ineligible under RDEC Scheme).
  • Externally Provided Workers (EPWs).

To learn more about the eligible expenditure for your R&D projects, please click here.

How TBAT can help?

Our tried and tested process of claiming R&D Tax Credits for our clients has proven successful; building robust and comprehensive technical and financial reports that support claims against HMRC scrutiny.

TBAT’s Senior R&D Tax Consultant Ian Davie, is part of the HMRC R&D Consultative Committee. This means that we’re always up to date on legislation and guidance changes and are expertly placed to handle your claim.

We have been working on R&D Tax Credits claims for over 7 years and have identified over £210 million in eligible R&D spend and brought £24 million in tax benefit to our clients, boosting their ability to stay ahead in a globally competitive market.

We have a great understanding of HMRC requirements and have successfully claimed from a range of industry sectors. Our clients’ satisfaction is paramount, with all of them receiving their benefit from HMRC. As a result, many return year on year.

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Online R&D Tax Credits Portal

Get started on your own R&D Tax Credits claim by registering on our online claims portal.

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Success Stories

Find out how we can help your industry sector access Grant Funding and claim R&D Tax Credits.

Modus Accountants

Modus Accountants are Oxfordshire’s leading Chartered Accountancy firm. They joined TBAT's Partner Referral Scheme in 2019, following a local networking event.

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Grey Wolf Therapeutics

Grey Wolf Therapeutics (‘Grey Wolf’) is a UK-based drug-discovery biotechnology company focused on developing novel immuno-oncology therapies.

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Five Rivers Child Care Limited

Five Rivers offers an integrated, comprehensive, personal service to the people in need of their care (children, staff, and foster carers).

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Tecman

This was the second time Tecman worked with TBAT, having previously used TBAT’s services to successfully obtain funding.

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aiPod

aiPod approached TBAT for a full bid-writing and submission service to secure their first UK Grant Funding.

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

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