What are R&D Tax Credits?

What are R&D Tax Credits?

R&D tax credits are an initiative launched by HMRC to reward innovation and encourage business growth. They are a valuable source of cash for businesses to invest in developing a new product, process or service.

As a business, if you spend money on developing a new product, process or service (or enhance an existing one) you will be entitled to R&D tax relief. This can exist for any sector, just because you don’t have a lab with people in white coats doesn’t mean you don’t have R&D.

The cash received from the R&D tax credit can be used to continue developing further R&D projects and growing the business. If you are making your first R&D claim, then you can usually claim relief for your last two completed accounting periods.

Frequently Asked Questions

No claim, no fee.  We charge a percentage fee on the successful receipt of the R&D tax relief.  There are no additional or hidden costs; simply the percentage of benefit that we are able to secure for you.

No, definitely not! We do not tie anyone into a fixed-term agreement.

We aim to prepare and submit the claim to HMRC within four to six weeks providing the availability of all information required.  It then usually takes between four and six weeks for HMRC to process the claim, RDEC can usually take a little longer.

Once the claim has been submitted, we will monitor the progress with HMRC and keep you updated if there are any delays in receiving your benefit.