Research and Development (R&D) Tax Credits

Many companies are taking advantage of the lock-down period and time available to file an R&D claim with HMRC. HMRC are processing claims more rapidly at present to better support businesses cash flows, quoting up to 5 weeks rather than the 8-10 weeks previously.

Whilst rebates vary, over the past 6 months the average claim size for our clients has been £18,000! 

It is a common misconception that to be engaged in Research and Development activities that a company must be running labs packed full of people in white coats. This is not the case! You simply must have attempted to overcome scientific or technological uncertainties by creating new or enhancing existing products, services, software or processes in order to have a qualifying R&D activity.

You would be surprised at how many companies fulfil these criteria without realising they are eligible for a significant tax benefit.

Please get in touch if you would like any advice relating to making an R&D claim.