• Evans Accountants

R&D Tax Credits Explained...

The world is changing rapidly… and keeping up with changes requires innovation. Do you know that the UK encourages and rewards technological and scientific innovation through tax incentives to companies that carry out Research and Development?

R&D tax credits are a Corporation Tax incentive designed to reward UK companies for investing in innovative solutions. The tax credit can come in the form of a payment from HMRC if there isn’t a tax liability, for example with start-ups, or in the form of a significant reduction in the Corporation Tax payable for profitable companies.

Some people think that R&D is confined to engineering and pharmaceuticals industries but this is incorrect. It can apply to a far broader range of manufacturing and service industries, such as construction, design, energy saving, recycling, food technologies, computer technology and numerous other sectors.

How will Evans Accountants help you?

We know the rules and can advise you on where there is the potential to make an R&D tax claim, help formulate and calculate the claim and submit it to HMRC, negotiating with HMRC on your behalf where necessary.

R&D basic questions:

Ask yourself…

  1. Which of your current or planned advances are designed to make your products or services better than those that exist already?

  2. Is there a risk that they may not be successful?

If you think you may be carrying out R&D and want to find out how you make an R&D tax claim, get in touch and we will be very happy to advise and help.

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Evans Accountants is the trading name of David H Evans Ltd, Company registered number: 4666707 Registered in England and Wales. Registered by the Institute of Chartered Accountants in England and Wales to carry out company audit work.