Research & development claims

The UK government has been very keen to ensure that businesses continue to invest in innovation, research and development.  To ensure that this is rewarded there are very generous tax reliefs available for companies to claim that invest in developing their processes, products and technology. 

Providing certain criteria are met expenditure on research and development for an SME can attract tax relief at up to 230% (130% beyond the original amount of expenditure included in the accounts).  To the extent that this generates a taxable loss for the business a cash tax credit can be repaid from HMRC to your company.

The main eligible costs that can benefit from enhanced tax relief are:

  • Staffing costs
  • Consumables and transformable materials
  • Externally provided workers 
Keeping proper records and evidence to support your claim is crucial as it is possible to go back two years to make the claim. 

At RPG Crouch Chapman we can review your expenditure to determine eligibility, guide you through the process and put together the maximum claim for your business.

Please review our guide to Research & Development expenditure and please contact our tax team to discuss this in more detail.

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