Research and Development Tax Relief

Could your business benefit from a reduced tax bill or cash refund from the government? If you are not already claiming Research and Development (R&D) tax relief, perhaps you should be.

Visionary Accountants are always very competent, quick at replying and excellent at explaining things. We are extremely pleased with the quality of service received and would highly recommend them to anyone!

Ingrida Domarkiene
Amber House Construction, Milton Keynes

Our R&D Tax Claim Service

There is a lot of terminology around R&D tax relief, but don’t be put off. The key point is this:

If you are an SME, for every £100,000 spent on R&D, you can receive an additional £130,000 deduction from your corporate taxable profits potentially triggering a corporate tax reduction of up to £24,700 or, if loss-making, gain a cash refund of up to £18,850.

These are valuable benefits. And if you think you are not spending any money on R&D, think again. You may well be – it’s not just for the white coats in labs. Can you answer yes to any of these questions?

  • Do you manufacture anything?
  • Do you carry out any design work?
  • Have you developed your own software?
  • Have you developed any new processes such as software that improves internal efficiencies?
  • Are you using existing technologies in a unique way or combining or interfacing with them in an original manner?

If so it is well worth exploring whether you may have a claim.

Visionary Accountants R&D team will lead you through every step of the process including:

  1. Completing an initial questionnaire to determine the likelihood of identifying R&D spend in your organisation to take forward for a successful claim;
  2. Completing a full background commercial and financial fact-find of your business;
  3. Conducting interviews and technical research to identify individual projects that have qualifying R&D spend;
  4. Quantifying and pooling the types of expenditure that can be claimed against each identified project;
  5. Creating a justification document to present the qualitative rationale behind the claim and why it qualifies as R&D to HMRC;
  6. Completing the claim computation, statutory accounts adjustment and presentation and CT600 corporate tax return;
  7. Advising on whether to take the benefit as corporate tax relief or a tax credit refund;
  8. Handling any claim enquiries from HMRC.

R&D doesn’t have to result in a successful product to enable a claim and you may have several projects on the go that qualify. You may well benefit from an R&D expert working with you to achieve a successful claim.

Please do not hesitate to contact us to discuss how we can help you investigate your eligibility for R&D.

Arrange your FREE consultation

Our team of Research and Development Tax Relief experts will be happy to meet with you to discuss your business requirements. Complete the form below or call 01727 730550 to arrange your FREE consultation.

Established in St Albans since 2008 –
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