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R&D tax credits

R&D tax credits

Imagine if you had an extra £54,000 to invest in growing your business.

This is the average claim value that R&D tax credits can provide to innovating businesses. This can be used to reduce your tax bill or increasing your taxable losses. With over 12 years’ experience in this field, we’ve developed a 4-step process to help minimise your stress and maximise your entitlement when applying for R&D tax relief.

R&D tax credits explained

What are R&D tax credits?

R&D tax credits are an HMRC UK tax incentive designed to encourage companies to invest in innovation. They give your business the opportunity to claim back a proportion of your R&D expenditure as tax credits, which can reduce your tax bill or increase taxable losses.

If you’re spending money on developing new products, processes or services, then you could be eligible to claim R&D tax credits. To find out if you do qualify check your eligibility below or get in touch to speak to a member of the team.

Tax credit eligibility

Advice

We can help determine if you're eligible for R&D tax credit. Get in touch today.

Do the following apply to your business?

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Are you spending on any of the following?

You should be eligible!

You should be eligible for R&D tax credits. At MPA, we have extensive experience in ensuring your claim is accurate and that your value is maximised. Did you know, the average R&D tax claim submitted to HMRC was £54,000.
Get in touch with us today for an initial valuation.

Sorry, it seems you are not eligible

However if you would like to give us a call on
0808 208 5222,
we’d be happy to speak with you about the tools available to you to ensure the growth of your business.

Types of R&D relief

SME R&D Tax Credits

The SME R&D tax relief scheme is for companies with fewer than 500 employees, and revenue of less than 100 million euros (or whose balance sheet is less than 86 million euros). You can offset up to 33% of your R&D costs against your Corporation Tax and in some cases, you can receive this as a cash credit from HMRC.

Research and Development Expenditure (RDEC)

Previously known as the Large Company scheme, the RDEC scheme is for companies with 500 or more employees, revenues over 100 million euros, and a balance sheet of more than 86 million euros. The level of tax relief can be worth around 8% of the money spent on R&D.

Tax calculator

Tax calculator

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Contact us now to discuss how to start a claim

Get a quick estimate of your potential claim value

Drag the slider or enter your estimated spend’s value below to view your claim value against your R&D spend.

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Your claim estimate:

Your spend estimate £50,000

How we work

Our 4 step process

Our insight and experience will help you get the best results. Having worked with the HMRC for many years, we really speak their language — and can use our expertise to translate the rules and regulations for you. We’ll combine this with our knowledge of taxation, and advise you how you can put the funds from your claim back into your business.

Our 4 step process below is designed to carefully analyse your business to understand the costs that you have incurred that might be eligible for tax credits. In 2018 alone we have been able to help over 600 innovative businesses take another step forward.

 

Step 1 – Getting to know you

We know that every business is built in a slightly different way. So an integral part of our process is to get to know you and your business to find out what is important to you, where you are in the market and where you want to go. With a team of analysts based across the country, we have the flexibility to offer either a phone call or an onsite visit. We know that time is a major factor in all businesses, so we can be flexible and work around you. In this meeting we would usually explain our processes and how we will work together.

 

Step 2 – Data gathering meeting

As much as we take up most of the work in preparing your claim, we do need your input. In this meeting we get into the detail of what your company does and which projects will form your claim. HMRC have outlined a set of criteria in order to identify eligibility, our technical analyst will explain what these are and identify which of your products or services would qualify for the scheme.

We have found that using technical analysts with experience in your specific sector, is a great way of identifying the aspects involved in creating or making a product or new process. With an understanding of the iterative steps that can be found in daily activities they are able to uncover details that can help maximise your claim value.

 

Step 3 – Generating a claim report

The technical report is an outline of the processes involved in the creation of your product or service and the financial evidence of your spending around it. HMRC have a level of detail that they require to be included in a report and we have an internal team that will ensure that the report meets these. Before we submit the technical report a draft will be sent to you for review.

Our aim is to make sure that you can continue to realise your maximum potential through innovation. And in order to ensure that you receive the maximum R&D tax relief possible, our process in submitting your claim includes a review of your company financials by our team of tax specialists, who will agree on your tax position and notify you of any changes to optimise your overall tax position.

Step 4 – Managing the claim

Once you have signed off the technical report we will submit it to HMRC. We are confident in our process and as a standard part of our service we provide enquiry defence, so in the event that HMRC has any questions we will communicate with them on your behalf.

HMRC has its own internal process which can sit outside our estimated delivery times, but our dedicated support team maintain regular communication so that we can keep you updated on the progress of your claim.

Once the claim is successful and HMRC has made payment of your claim we will pass the money directly on to you with a detailed explanation of how the tax savings have been calculated and applied.

Meet the team