R&D Tax Credits

Claim back for your innovative work.

Without distracting you from your core business.

Benefits of R&D Tax Relief 

Receive up to 33p for every £1 spent on R&D.

An Average claim of £50k+ with no minimum claim.

Any industry or sector can make a claim.

Find out more about this scheme on R&D Tax Credits Explained

Why work with inovasi? 

Save your time

With an optimised and efficient process, we can make a claim without wasting your time.

Expert Advice

With expert advice, you will be confident that your company is making the most of the scheme.

HMRC Compliant

Rest easy knowing your claim has been strictly adhered to the HMRC legislation, reducing the chance of an inquiry.

Great Experience

Our team has over 20 years of experience of the R&D scheme and are always up to date on the latest guidance and changes. 

Integrate with innovation relief

By integrating your R&D with grant funding, patent box, and other forms of funding you can ensure you maximise all aspects of your innovation process.

Find out more about why your company should partner with an innovation firm

Pricing 

Our fees are transparent and simple. 

We work on a no win no fee basis and only charge a percentage of the tax-saving we are able to get back for you* 

*Minimum fee of £1,500

Most Popular

12.5%

Have an expert qualify your eligibility for the R&D scheme and review the scope for a claim.

 

Access to our simple step by step online platform. Fill in the details of your R&D and add your financial information.

 

Your claim will be reviewed by specialists before submission.

 

Full R&D report.

Have an expert qualify your eligibility for the R&D scheme and review the scope for a claim.

 

We write and complete all the required paperwork, ensuring your claim is robust and maximsied. All we require is a small amount of your time, for you to tell us about your R&D.

 

We will assist with any questions to ensure your claim is agreed in the unlikely event of an enquiry.

 

Your claim will be reviewed by specialists before submission.

 

We ensure submission of CT600 and full R&D report  

20%

Special Cases

If you have a very large claim.

 

Would like to combine your R&D with Patent Box or grant funding.

 

Or if you would like additional services such as Advance funding, advance assurance, R&D rescue, or anything else we could do to help.

 

Please get in touch for a quote.

Find out more about how much you could be entitled to with R&D Tax Credit Calculator

 

Get in Touch 

The best way to see if we can help is to get in touch.

  • Send us a message 

  • Book a free 15  minute discovery call at a time that suits you 

R&D Tax Credits Explained

What are R&D Tax Credits?

The R&D tax credit scheme is a UK tax relief scheme to promote R&D. It supports companies that are investing in innovation. It helps companies to grow and it turn the overall economy. Since the inception of the scheme in 2000 over £26 billion has been claimed and it is growing year on year.

 

You are able to make a claim in your CT600 and you support this by sending an R&D report to HMRC, which they aim to process the claims in 4-5 weeks. You are allowed to claim for the previous two accounting periods. Once you pass the deadline it is gone and you can never get it back. You can make a claim even if the project failed.

SME scheme:

For SME’s (Less than 500 staff and turnover less than £90 million.) Can claim back up to 33.35% of the qualifying expenditure.

RDEC scheme:

For large companies (More than 500 staff and turn over more than £90 million or SME’s in special cases.) Can claim back up to 11% of the qualifying expenditure.

To be eligible there is a short list of qualifying criteria:

  • Be a UK limited company 

  • Be subject to normal UK corporation tax

  • Have spent money on qualifying R&D

What is Qualifying R&D?

HMRC has strict definitions of what is R&D for the R&D tax credits scheme. They can be very complicated with a lot of “grey” areas, which is why it is advised to have a specialist aid you with this. In short, HMRC considers R&D “Work that advances overall knowledge or capability in a field of science or technology, and projects and activities that help resolve scientific or technological uncertainties, may qualify for R&D relief”

 

This can be broken down into certain things that must be met for HMRC to consider it R&D

1 - Technical Advance

It should aim to create an advance in an overall field. It should research or develop a new process, product or service or improve on an existing one.

3 - Science or Technology

It should have aimed to create an advance within science or technology. For R&D tax credits social sciences, humanities and the arts are not applicable. Also ‘commercially innovative” is not enough.

2 - Technological Uncertainty 

It should be difficult for a professional in this field to figure out how to solve the uncertainty, often this can show itself in trial and error or lots of iterations and research needing to be done.

4 - Competent Professional

It is important that the technical lead for the R&D project is a competent professional within the science or technology you aimed to advance. This can be qualifications or experience.

What is Qualifying Expenditure?

The financial side of an R&D claim can be very complicated, and many different factors can affect what is and isn’t eligible, and what percentage is allowable. This is why we advise having a specialist aid you with an R&D claim. You are able to claim a lot of the costs associated with an R&D project. Below is a summary of what is and isn't claimable.

What  is 

Employee Costs

You can claim for salaries, wages, class 1 NIC, and pension fund contributions for staff engaged in the R&D project. Salaried directors and a fair proportion of indirect supporting staff can also qualify. Employee expenses can qualify sometimes.

Software Costs

You can claim for the cost of software that is used directly in the R&D and a fair proportion of software only partly used for R&D.

Subcontractors and EPW's

You can claim for 65% of the costs of subcontracted R&D or Externally provided workers for an R&D project. You cannot claim for subcontractors under the RDEC scheme.

Consumable Costs

The cost of materials and the proportion of water, fuel, and power consumed in the R&D process as well as prototypes, provided they are not being sold. Heating and lighting if charged separately from rent.

What  isn't 

Capital Expenditure

Capital expenditure is not eligible however, a generous 100% research and development allowance may be due on capital assets, such as plant, machinery, and buildings used for R&D activity.

Rent or Land

Rent or rates and costs of land are not eligible expenditures under the R&D scheme. If heating and lighting are charged separately from the rent they are eligible. 

Patent Costs

The cost of patents is not eligible however you may be able to claim up to a 9% reduction in your corporation tax for qualifying IP generated costs with the patent box scheme.

Production or Distribution

The cost of production and distribution of goods and services is not eligible expenditure under the R&D scheme.

 

R&D Tax Credits Calculator

Use our simple R&D tax credit calculator tool to get an estimate of how much you may be able to make a claim for. This as a simple calculator for indicative purposes only, for actual calculations we recommend enlisting the help of a professional to ensure it as calculated accurately. We would give you an idea of this for free with a 15 minute discovery call.

 

Inovasi Ltd

12900296

Unit 20 Maisies Way,

South Normanton,

Alfreton,

England,

United Kingdom,

DE55 2DS

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