R&D credits

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Are you eligible for R&D? If you have spent on qualifying projects we can help you reclaim costs.

 

How you receive your R&D tax credit benefit is determined by which scheme you are using to make a claim. Your business’s financial position also makes a difference. To some extent, it also depends on your wishes. You might receive it as a cash payment, a Corporation Tax reduction, the carry forward or back of an enhanced loss or as a blend of these.

 

 

Details you’ll need to support your claim

It will help your claim if you give us a short summary that explains how your project:

• looked for an advance in science or technology and aimed to achieve this advance

• had to overcome scientific or technological uncertainty and how you did this

• could not easily be worked out by a professional in the field

 

Costs you can claim

You can claim costs on the project from the date you start working on the uncertainty until you develop or discover the advance, or the project is stopped.

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Staff costs

For staff working directly on the R&D project, you can claim a proportion of their:

• salaries

• wages

• Class 1 National Insurance contributions

• pension fund contributions  

You can claim for administrative or support staff who work to directly support a project (for example, specialist cleaning staff). You cannot claim for clerical or maintenance work that would have been done anyway, like managing payroll.

You can claim 65% of the relevant payments made to an external agency if they provide staff for the project.

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Subcontractor costs

Subcontracted expenditure cannot be claimed unless it is directly undertaken by:

• a charity

• a higher education institute

• a scientific research organisation

• a health service body

• an individual or partnership of individuals

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Consumable items

You can claim for all consumable items used up in the R&D. This includes:

• materials

• utilities

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Costs that cannot be claimed

You cannot claim for:

• the production and distribution of goods and services

• capital expenditure

• the cost of land

• the cost of patents and trademarks

• rent or rates

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For more information please contact 03330506312 or fill out a contact us form.