R&D Tax Relief – 5 Reasons to Claim

16 January 2020 Scott Burkinshaw View all News

Top 5 reasons why you shouldn't miss out on claiming this valuable relief.
Thousands of businesses in the UK and hundreds in the Sheffield City Region have already benefitted from the generous government-backed Research and Development (R&D tax relief) scheme, which using the tax system incentivises businesses to innovate.

Significant tax savings for profitable SMEs

The level of potential tax savings that can be achieved by innovative companies who are making an appreciable improvement to science of technology through R&D tax relief is very generous, with, for example, a SME incurring £100k of costs on qualifying R&D activity being able save almost £25k in corporation tax.

Tax credits for Large and grant funded companies

All large companies and certain SMEs in receipt of grant funding claim R&D relief under the RDEC scheme.  This enables a company to claim up to £9.7k (with a proposed increase to 10.5%) for every £100k of expenditure. 

Cash back for loss making companies

As well as reducing the tax liability for profitable companies, both the SME and RDEC schemes provide for loss making companies to elect to receive cash payments from HMRC.  This valuable cash benefit can be used to invest in further innovative work, new jobs or infrastructure.

R&D relief: not rocket science to claim

Making a successful claim can be a demanding process. Negotiating the legislation and guidance surrounding the scheme is complex, with a common preconception existing that the level of work required to put together a claim is too high.

However, our Radius team have developed an unburdening and straightforward process of working with our clients to make successful claims.

Our process:

Radius 3 Step Process Graphic (984x588px)3


Claim two years of tax relief in one go

Providing certain time limits are not breached, companies will be able to make claims going back two financial years, meaning that the relief can be particularly beneficial for innovative companies making a claim for the first time.

R&D tax reliefs for innovation present an unmissable opportunity for local businesses that are making advances in technology in science. The government wants to see more claims being made and Shorts’ Radius team are perfectly placed to help.

If you think that your company might qualify for this generous tax relief or would like to find out more about we can help, please take a look at the Radius page of our website or get in touch with one of the team on 0114 267 1617 to arrange your free consultation.

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More about R&D Tax Credits:

Tax-Saving Tips for Individuals and businesses

Written especially for entrepreneurs and owner-managed businesses, this guide is full of planning ideas and tax risks to avoid.

If you're looking for ways to reduce your liability, claim your copy and start planning how you could pay less tax.

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