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Research & Development

Generally speaking, a project will qualify as R&D if it aims to advance the overall knowledge or capability in a field of science or technology where there is scientific or technological uncertainty. A qualifying project could create or significantly improve a process, material, device or product which increases knowledge or capability in a field of science or technology.

There is a common misconception that qualifying activities are limited to pure research by technicians in laboratories; this is not the case. Any kind of innovation may constitute qualifying activities. If the answer to any of the following questions is yes, then a claim may be possible:

  • Have you automated previously manual processes?
  • Have you modified manufacturing processes, maybe for specific customer requirements?
  • Have you developed new products or upgraded/refined existing products?
  • Have you devised bespoke software for a particular purpose?
  • Do any of your technical staff undertake research/problem solving?
  • Are you market leaders in your field?
  • Have you created patents over any of your products?

All of the technical description aside – if your company qualifies to claim R & D tax relief any of the costs below can be claimed at 225% for tax relief:

  • Staff costs (including employers pension and employers NI, but not benefits in kind)
  • Externally provided workers, eg agency staff (65% allowable)*
  • Consumables used directly in the R&D process
  • Power, water, fuel used directly in the R&D process
  • Computer software
  • Subcontracted R&D costs can be claimed (65% allowable)*

For advice & to see if you are eligible please contact us now.

 

Stuart Hall & Co - making R&D Tax Credits simplified and taking the pain away from busy employers ...

Darren Race, Managing Director of Eleven Ltd