Research and Development Tax Credits
Research and development (R&D) tax relief
and credits give a tax advantage to both small and medium sized
enterprises (SMEs) and large companies undertaking qualifying
activities. Our specialist team of advisers deal with claims
in a wide range of sectors.
R&D tax relief is a government
incentive to encourage companies to invest in R&D activities by
claiming relief on qualifying costs.
R&D activities are not confined to
companies in the technology sector. We make claims for
companies across a range of sectors including:
- manufacturing
- engineering
- construction
- automotive
- pharmaceutical
- software
Maximising your company's
claim
Talk to us about making a claim or increasing
your claim if your company carries out activities which
include:
- seeking to resolve technological
uncertainties
- seeking to make technological
advancements
There will soon be a time limit of two years
from the end of the accounting period to submit an R&D claim
with the return. But until 31 March 2008, companies
can still make claims for R&D tax relief (though not SME tax
credits) going back up to six years.
For SMEs, 150% of the
qualifying R&D costs may be claimed, as a tax deduction
For large companies, the deduction is 125%.
In addition, SMEs may choose to "trade in"
their R&D losses and receive 24p for each £1 spent on
qualifying R&D.
100% allowances are also available on R&D
capital expenditure.
We will help you to put together a robust
claim either as a stand alone project or as part of a wider tax
compliance service. Our excellent reputation with HM Revenue
and Customs (HMRC) and our established relationships with the new
R&D units put our clients in a strong position.
For further details please contact Sam Vanags, Partner
on +44 (0)1865 799805 or email sam.j.vanags@gtuk.com.