R & D CLAIMS
Am I eligible?
You could qualify for Research & Development tax relief if you are a business that creates innovative products or processes. The tax relief can be claimed by a range of companies that seek to research or develop new software and products. The relief is designed to assist companies by either reducing their corporation tax bill or providing a repayable tax credit for companies who are not yet making profit.
The relief was first introduced in April 2000 for small and medium sized companies and was extended to large companies in April 2002.
What are the benefits?
R&D Tax Credits work by allowing your business to include an additional deduction in calculating its taxable profits. Real tax savings can be achieved whether your company is tax-paying or loss making.
The SME scheme has a rate of R&D expenditure tax relief as high as 230%, while the Large Company Scheme has a rate of 130% – meaning you can save a fair amount on your tax bill.
Want to find out more? Call us on 01260 218777 or use the contact form on this page.