What is your R & D Worth?
It’s not only for rocket scientists or research laboratories!
Many UK companies can claim Research & Development Tax Credits! Click here to check if you qualify
We have created a R&D tax credits Easy R&D Claims Calculator that you can download free. It will help you check if you are eligible for R&D tax credits and how much your R&D claims could be worth.
The R&D tax credit schemes provide generous cash benefits to companies that are undertaking qualifying developments, typically anything from £10,000 to many hundred thousand pounds per year. Many companies claim year on year as they are undertaking R&D on a regular basis.
Here are three examples:
Turnover: average £1.6m p.a.
Profit: average £200k to £250k p.a.
R&D costs: annual average £200k mostly on staffing costs +
Average annual benefit: £50k.
Over four claim years the company paid £200,000 less corporation tax.
Licensed Software Developer
New company in 3rd year of trading.
Trading loss: (-£30k).
R&D costs: £150k mostly staffing plus some agency staff and specialist subcontractor costs.
The company claimed a tax credit cash payment of £31,500.
Turnover: average £9m p.a.
Profit: average £450k p.a.
R&D costs: annual average £170k mostly on staffing costs + some utilities and wasted materials.
Average annual benefit: £45k.
Over four claim years the company paid £135,000 less corporation tax.
If you are the owner of a Limited Company, SME (Small or Medium Enterprise) or you have SMEs as your clients and you want to work out what a R&D claim may be worth to your company or client download our Easy R&D Claims Calculator and find out.
Usually the difficulty for businesses and their accountant tax advisors, lies in understanding the scope of what qualifies as R&D in terms of eligible activities and costs, as well how to compile the information to make a claim. Find out more about whether you qualify.
Are you ready to find out if you qualify or how much your R&D claims could be worth?