What Are R&D Tax Credits?
R&D Tax Credits are a very niche part of the UK tax code that could
bring your company thousands of pounds in tax relief.
Tax Credits Explained
In order to encourage Research and Development the UK Government introduced R&D Tax Credits in 2000.
This has proved highly popular with 48,000 UK companies claiming back almost £4.3bn in tax relief in 2019. R&D Tax Credits are a very niche part of the UK tax code that could bring your company thousands of pounds in tax relief.
A government incentive aimed at advancing science and technology within UK companies
Launched in the year 2000
Rewards innovation, risk taking, and research and development
You can backdate your claim up to two financial years
What can be claimed back?
R&D Tax Credits are calculated based on enhancing expenditure for research and development work, as the UK Government aims to reward innovation for SMEs and large companies.
Staff wages and other related costs
Payments made to sub-contractors and external workers
The cost of materials consumed
Software licensing costs
Payments to clinical volunteers
Light, heat, power and other utility costs
R&D Tax Credits are a very niche part of the UK tax code that could
bring your company thousands of pounds in tax relief.
Who is eligible?
Companies of all sizes can claim R&D Tax Credits.
The size of your business will determine which R&D Tax Credits scheme you are eligible for and ultimately what proportion of your spend you can claim back, but every business registered in England and Wales is eligible.
Eligible R&D activities:
Overcoming technical challenges
Creating and testing prototypes
Streamlining processes
Trialling new or substituting materials
Developing bespoke software
Trial and error
Industry firsts
No matter what your circumstances are...
...we can help you to submit your claim to HMRC and receive thousands of pounds in tax relief or as a cash lump sum.
Whether profitable or operating at a loss, both SMEs and large companies can claim R&D Tax Credits either through the Small and Medium-sized R&D tax Relief Scheme or the RDEC Scheme. Your business needs to be a UK limited trading company with a set of financial accounts and qualifying R&D spend.
Why Use A Specialist?
R&D Tax Credits are a very niche part of the UK tax code that could
bring your company thousands of pounds in tax relief.
Why choose to claim R&D / randd?
What truly differentiates is to other when claiming for randd/R&D via us are our highly experienced consultants who have an unrivalled breadth and depth of senior level experience covering wide ranging industry sectors. This gives them expertise to identify what claimants themselves may not recognise as eligible, and in many cases, what other Research and Development Tax Credits Specialist consultancies or accountants won’t see or even be looking for.
At Consilium , our experienced team have filed over 3,000 cases since inception with a 100% success rate. R&D Tax Credits are a fantastic UK Government incentive, and we are thrilled to help reward our clients with funds that help their businesses to grow and push innovation.
We use our efficient service to maximise the claim size and get the best returns possible for our clients. Our specialist team are there every step of the process and work with HRMC so our clients can use their time to focus on their business, not the claim.
Creating additional value
Our proven track record has demonstrated that we can help our clients claim back up to 9 times more value compared to their accountants, a self-submission or an alternative R&D agent. The diligence of our R&D experts ensures that no stone is left unturned when we manage your claim.
By choosing a dedicated R&D agent like randd, you can rest assured that your claim will receive our 100% attention and focus, as our process is not diluted by other services. Our initial chat, which typically takes no longer than 30 minutes, will help us to determine your eligibility, before we put together the technical narrative for your claim.
Once we have built your case and made your submission, we will deal with HMRC on your behalf throughout the entire processing stage, allowing you to focus on what really matters – your business!
Why choose randd?
What truly differentiates randd are our highly experienced consultants who have an unrivalled breadth and depth of senior level experience covering wide ranging industry sectors. This gives them expertise to identify what claimants themselves may not recognise as eligible, and in many cases, what other Research and Development Tax Credits Specialist consultancies or accountants won’t see or even be looking for.
At randd, our experienced team have filed over 3,000 cases since inception with a 100% success rate. R&D Tax Credits are a fantastic UK Government incentive, and we are thrilled to help reward our clients with funds that help their businesses to grow and push innovation.
We use our efficient service to maximise the claim size and get the best returns possible for our clients. Our specialist team are there every step of the process and work with HRMC so our clients can use their time to focus on their business, not the claim.
Creating additional value
Our proven track record has demonstrated that we can help our clients claim back up to 9 times more value compared to their accountants, a self-submission or an alternative R&D agent. The diligence of our R&D experts ensures that no stone is left unturned when we manage your claim.
By choosing a dedicated R&D agent like randd, you can rest assured that your claim will receive our 100% attention and focus, as our process is not diluted by other services. Our initial chat, which typically takes no longer than 30 minutes, will help us to determine your eligibility, before we put together the technical narrative for your claim.
Once we have built your case and made your submission, we will deal with HMRC on your behalf throughout the entire processing stage, allowing you to focus on what really matters – your business!
Consilium Agency are R&D Tax Credit Specialists
Our Auditing Service is provided by our team of R&D Specialists comprised of Chartered Accountants and Chartered Tax Advisors. We are able to recover 26% – 33.35% of all qualifying R&D expenditure for SME’s and 8.8% for large companies.
